FANDOM to spur digital content business
FANDOM, a community-focused digital platform that allows fans to connect with famous influencers and artists as well as earn revenue via digital assets, is slated to launch in August.
Sirasom Borisutsuwan, chief executive of Fandom Application Co, said the application was inspired by fan culture and passionate Thai fans who cheer for their favourite K-pop idols, popular gamers, influencers and artists.
She expects FANDOM to serve as a central platform for these creators to reach and interact with their fans and help advance the Thai digital content business.
Described as a "Fun-to-Earn" application, FANDOM allows users to earn revenue while interacting with and supporting their favorite artists through non-fungible tokens (NFTs).
In addition to income, these NFTs would also provide the holders with special privileges such as access to exclusive activities. The platform will also launch with an NFT portfolio feature.
The platform currently hosts the Thai pop band Wish Me. Ms Sirasom expects the platform to host at least 20 artists by the end of year from various fields, such as sports, idols, food and travel.
She said during the first stage, artists on the platform would be included through invitation only, but the app would later allow anyone to get involved.
She said during the later stages, artists with smaller fanbases, such as school cheerleaders would all be able to create content on FANDOM.
The platform will use Bitkub Chain from Bitkub Blockchain Technology to create NFTs as it provides high data security and is eco-friendly, she said.
Additionally, Fandom Coins will be available on the application, allowing users to exchange them for NFTs. New members will immediately receive 100 Fandom Coins upon registration, and may obtain another 25 for each user they are able to recruit.
Jirayut Srupsrisopa, chief executive of the Thailand-based cryptocurrency exchange Bitkub, said FANDOM is an important step forward for the entertainment industry in the digital economy. He discussed the possibility of creating digital representations on FANDOM, or turning certain moments, such as a celebrity's mealtimes, into NFTs.