Korean startups in diverse businesses using blockchain technology

Blockchain technology is one of the most disrupting technologies of recent times. While it is known more for utilization in the finance sector and credit trading businesses through various cryptocurrencies, diverse sectors and businesses are also now incorporating blockchain technology.

Access to the blockchain is no more limited to just new-age companies or financial institutions. Numerous benefits of blockchain are transparency, supply chain advantages, decentralization, etc. Blockchain transaction ledger for public addresses is accessible to anyone, making various components of business accountable. These advantages of blockchain technology means diverse sectors like healthcare, real estate, art auctions, gaming, transport, finance, etc are also using it.

1. SuperTree – gaming platform

SuperTree is a decentralized gaming platform providing blockchain-based gaming solutions. The startup focuses on a Meta-Blockchain network that allows users to access decentralized content, identity, and payments. The Meta-Blockchain network supports cross-platform games including PC games, mobile games, and console games.

Since it started in 2018, the startup has secured $3 million in investments from local VCs such as SBI Investment Korea and Korea Investment Partners. It has developed some successful global popular dApp games such as CryptoDozer and DozerBird. The startup also provides a C2C Marketplace where users can directly trade items using cryptocurrency and “PlayDapp” which enables real-time competitions.

3. Muzika – Music blockchain project

Muzika is a Korea-based music blockchain project and research center established and run by Mapiacompany, with the mission to bring innovation to the digital music industry. The blockchain-based platform builds blockchain applications intended to support artists by connecting them with their fans and getting rewarded in the process.

Fans can also stream music and get rewards in return. Muziqlo, the startup’s first rhythm game applying blockchain technology provides artists and fans with the opportunity to gamify a selection of their favorite songs. Through the app, artists make more profits while fans enjoy their music content. Muziqlo is available for Mac, Windows, and Linux.

4. ARTBLOC – Art blockchain project

ARTBLOC is an Art Blockchain project that objectively evaluates the investment value of an artwork based on the art reviews, list of transactions, and exhibition records of the artwork. The investors can rely on the evaluations to make reasonable investment decisions in purchasing the fractional ownership in the artwork.

Founded in 2019, the startup has set up an ARTBLOC Hub and marketplace where art galleries, artists, and art collectors can upload their art through the ARTBLOC Hub and its history. Other users on the hub can leave their reviews on the art allowing the artists to utilize the blockchain to accumulate review data on the interpretations and constructive criticisms on the artworks.

The ARTBLOC platform allows investors to evaluate various pieces of art from multiple perspectives instead of limiting their evaluations to only a few people. ARTBLOC Marketplace facilitates fractional ownership of art pieces with investment values being tokenized, issued, listed, and traded. Ownership of the art is tokenized with validated investment values from the ARTBLOC Hub.

In 2019, ARTBLOC launched the world’s first fractionalized ownership of artist David Hockney’s two latest artworks. The startup has also launched an app TESSA – for the purchase, sale, and trade of fractionalized ownership interests in investment-grade blue-chip artwork (such as Warhol, Picasso, Kusama, Basquiat, etc.) with the accessibility and liquidity of public markets.

5. LOKKS 307 – medication management platform

LOKKS 307 is using the benefits of blockchain technology in the healthcare sector. This Korean startup is leading in the field of deep learning data platforms in the financial and medical field with its specialization in data security service development. LOKKS 307’s medication management platform ‘DoseEase’s a cost-effective data solution that collects, manages, and monitors clinical trial data & subject compliance in real-time.

Korean startup LOKKS 307’s ‘DoseEase’ system.

Accumulated and verified data on DoseEase is stored on the blockchain to prevent any data loss, tampering, or corruption, thus providing highly credible data. Consequently, DoseEase is able to offer a comprehensive quantitative analysis of the effectiveness and toxicity of the clinical trial drug. In today’s time of health emergency like the COVID-19, when clinical trials are of utmost importance, DoseEase could prove to be a much-needed tool.

6. Wehome – Homesharing platform

Korean startup Wehome, has brought to the market a unique home sharing service, which can be termed as a ‘Blockchain version of Airbnb’. Started in the later part of 2018, Wehome is led by an experienced team of Kozaza, the Korean company which is an already established shared accommodation business since 2012.

Wehome is basically developed through the idea of sharing accommodation just like Airbnb but it has its base in blockchain technology. Unlike the centralized shared platform of Airbnb, Wehome offers a decentralized shared accommodation platform centered on the users. Utilizing blockchain technology and token economy, Wehome provides innovative values such as 0% commissions, money incentives, and community ownership. There are no handling fees but there are bonuses.

7. STAYGE Labs – a fandom monetization platform

Korean startup STAYGE Labs, has launched a vertical blockchain platform designed specially based on the entertainment industry. It works as a fan community platform awarding fans as they support their beloved artists. The platform gives tokens to fans based on their contribution. Fans can use their tokens to purchase artists’ albums, event tickets, mobile games, various content and much more. The artist and service provider companies can utilise the fans contributions to develop their business further. So if you are K-Pop fan and want to monetize through purchases, then STAYGE’s platform works for you.

Last year, the startup announced launched ‘Presented LIVE’ service that can monetize untouched performances. An official at Stage Labs said about the latest service, “Many artists, entertainment agencies, and performance agencies that cannot perform offline performances due to the spread of Corona 19 are threatened to survive.” Not only will we do our best, but we will be a helper who will do our best to secure more fans by entering the overseas market.”

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