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Jun 28, 2022, 08:00 ET
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SEOUL, South Korea, June 28, 2022 /PRNewswire/ — Digital IP platform company IPX, formerly known as LINE FRIENDS, announced recently that it has formed a strategic business partnership agreement with CRIPCO, the global blockchain and NFT company. The two companies will kickstart IPX’s NFT business, beginning with the iconic character IPs.
CRIPCO, a Singapore based global blockchain and NFT company, promotes the overall value and utilization of IP centered NFTs and provides a service of minting character IPs into NFTs for any holders to share and trade. On July 8th CRIPCO will list its IP3 token on FTX – the one of the fastest-growing cryptocurrency exchanges – and with its expertise will not only conduct IPX’s IP based NFT business, but also facilitate NFT business partnership with world renowned IP giants to grow its own portfolio in the NFT business.
Receiving investments from FTX Ventures, Solana Ventures, and others, CRIPCO plans to expand partnerships with famous cryptocurrency exchanges, global venture capitals moving forward. Furthermore, major fashion and entertainment brands, metaverse platforms, social and cultural trendsetters, including IPX, Naver Z(ZEPETO), Fujiwara Hiroshi, James Fauntleroy and have participated in the DAO (Decentralized Autonomous Organization), a community based on blockchain making all business-critical decisions on the future of CRIPCO.
IPX and CRIPCO will bring forward various types of NFT projects and facilitate organized relations between digital IP, DAO, and NFT market to allow anyone to own their IPs and generate revenue further establishing the vision of IP 3.0 Hub.
"IPX is excited to share our strategic partnership with CRIPCO, a company with blockchain and NFT technology expertise that has announced listing on leading global cryptocurrency exchange FTX, establishing its own unique NFT marketplace," said IPX official. "Based on this partnership, both IPX and CRIPCO will offer a new path for IP based NFT business going forward."
CRIPCO official concluded, "Upon listing our IP3 token on the globally famous cryptocurrency exchange FTX, CRIPCO will work alongside IPX through this partnership and with other competitive IP businesses to expand IP based NFT projects and create a new digital IP NFT business model fitting in the IP 3.0 era."
IPX is a new corporate name of LINE FRIENDS, a global character brand that originally started from Original Characters including BROWN, CONY, SALLY created for use as stickers for the leading mobile messenger app LINE and its 200 million active users worldwide. Upon rapidly transforming its offline business to digital, the total Intellectual Property (IP) transaction reached USD 883 million in 2021, and IPX announced itself as a ‘digital IP platform’ company to enter the digital IP based metaverse and NFT business.
IPX announced its vision of IP 3.0 – allowing anyone to create, own, and generate revenue from IPs – and unveiled ‘FRENZ,’ a new IP generator platform where users can create personal character IPs for utilization in metaverse and NFT services. Through strategic partnerships with blockchain service platforms such as ‘PlayDapp,’ investments in metaverse companies, and its first NFT project, ‘OOZ & mates,’ IPX is expanding its metaverse and NFT businesses, and expertise. Moving forward, starting with virtual artist WADE, IPX will collaborate with global artists from the fashion and entertainment business in developing new influential virtual IPs, supporting NFT and digital business areas, and leading the digital IP centered metaverse generation.
IPX has created popular IPs – ‘BT21’ (BTS), ‘WDZY’ (ITZY), ‘TRUZ’ (TREASURE). – and expanded its IP-based business by partnering with global media and game companies including Netflix (original animated series), SUPERCELL (Brawl Stars) and NEXON (KartRider), further diversifying and strengthening its competitiveness in digital contents. Recently, IPX opened its first ever virtual store on the global metaverse service, ‘Play Together’ and expanded the boundaries of its popular IPs to virtual character influencers to win the hearts of Millennials and Generation Z worldwide. IPX currently operates in 15 markets worldwide including Seoul, New York, LA, Tokyo, and Shanghai, and also operates in 15 online sales platforms.
CRIPCO is a Singapore-based global blockchain and NFT company that aims to popularize NFTs based on various IPs, and will list its native IP3 token on the FTX exchange on July 8, 2022. CRIPCO’s governance is based on a Decentralized Autonomous Organization (DAO), which oversees all business-critical decisions from IP screening to IP-based NFT projects. Investors and partners include FTX Ventures and SOLANA Ventures. The CRIPCO DAO is made up of corporations from various fields, renowned artists, and other influential members across industries including IPX (formerly LINE FRIENDS), NAVER Z (ZEPETO), Marciano MMG, Fujiwara Hiroshi, Edison Chen, KB (Kyubum Lee), and James Fauntleroy. In addition to attracting investment from global blockchain venture capitals and a major fashion platform, CRIPCO has secured partnerships with companies in the blockchain industry and is building its ecosystem to realize its ‘IP 3.0 Hub’ vision.
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