SET-listed RS Group is planning to list its digital token Popcoin on the cryptocurrency exchange XT.com tomorrow, marking its entry into the digital asset and investment business.
Launched earlier this year, there are more than 800,000 Popster accounts with more than 900 million tokens distributed through RS partners' marketing campaigns. The token is used to access media and entertainment content of the RS Group via the Popcoin Smart Marketing Platform under the "Popcoin Join to Earn" concept.
RS chief executive Surachai Chetchotisak said the listing is aimed at expanding Popcoin's user base in Thailand and abroad, fostering a seamless user experience for the token's ecosystem.
"RS looks forward to using blockchain technology to enhance the company's ecosystem for its business and partners in the long run," he said.
"RS will build it into a marketing platform, an extensive community that brings everyone together under the 'Join to Earn' model. Whether you are a brand, content creator or consumer, join us for the new marketing opportunities and beyond."
Many brands under RS Group have utilised Popcoin to grow its sales and brand awareness. For instance, a TikTok challenge featuring Popcoin enjoyed a higher participation rate within a few weeks than other activities without Popcoin, said Mr Surachai.
Future plans for Popcoin include collaboration with Thai and Korean artists for content creation, entertainment activities and concerts, all of which are focused on creating new experiences for Popsters.
Eak Auschavara-nondha, chief executive of Future Competere Co Ltd, said his firm partnered with Fourth Apple Co to develop Popcoin as a utility token for business uses.
"The listing of Popcoin on XT.com is a great opportunity as Popsters can now trade their coins in the crypto exchange by transferring their coins to 'whallet', a digital wallet developed by Future Competere for those who want to transfer their coins to the exchange," said Mr Eak.
Mr Surachai was similarly upbeat, noting "we believe listing on an international cryptocurrency exchange will mark the beginning of the expansion of the Popcoin ecosystem, where we look far beyond Thailand."
"Features, content and promotions of Popcoin will be in line with our plan and business model. Progress should continue through next year to strengthen Popcoin's community," he said.