On December 3rd, BOSAGORA, the permanent representative of MetaCity Forum, signed a business agreement with CROWDY, a crowd funding platform company, to participate in the Forum and actively participate in the MetaCity. CROWDY became the 12th company to join MetaCity Forum.
Fortified infrastructure for MetaCity Forum
CROWDY is a crowdfunding company and has the 2nd largest market share in Korea after Wadiz. CROWDY was co-founded by three ex-employees of Bank of America (BofA). At the time of its incorporation, financial industry personnels participated as shareholders in the form of ‘angel investors’ and directly practiced the crowdfunding philosophy. CROWDY’s operating strategy is to focus on quality rather than quantity, as it focuses on selecting companies that use its services rather than simply expanding business.
Crowdfunding is a method in which startups, raise business funds from a large number of unspecified small investors. Crowdfunding is largely divided into security (investment) and reward (reward) types. Securities-type crowdfunding has a structure in which issuance takes place only when more than 80% of the raised funds have been transferred, and based on this, the ‘issuance success rate’ can be measured. The reward type can be sold at a lower price than the offer amount, but the security type is registered in the KSD computer and cannot be changed. For this reason, the issuance success rate in securities is regarded as a major performance indicator.
This agreement contains the following summary of articles:
- CROWDY to join MetaCity Forum Alliance
- Cooperation to launch SOC blockchain citizen fund business
- Development of blockchain-based real estate crowdfunding model and joint launch of ‘Regulatory Sandbox’
- Cooperation for the development of the crowdfunding market
- CROWDY to work together with other enterprises within the MetaCity and strengthen the user experience.
- Others that requires a close working relationship
With this, the MetaCity Forum is now comprised of a total of 12 companies including BOSAGORA, AIITONE, URACLE, BRI, IBK Investment & Securities, KB Capital, Ethan & Alice Marketing, TELOS, Finger, D-light, MetaCity Lab and the newly participating CROWDY, for stronger infrastructure.
Realization of transparent and fair real estate development
Real estate development is one of the most profitable businesses worldwide. As it is a real estate development project that yields high returns, there are often incidents that only a small number of people participate in, sharing huge wealth, and giving the general public a sense of disappointment. As a result, the necessity of selecting participants through a more transparent and fair process for real estate development projects is being highlighted.
Kasa or LUCENTBLOCK, which operates regulated sandbox real estate projects, is running a service that leverages blockchain technology to allow the public to own parts of expensive commercial buildings and receive a share in the profits. Although they cannot participate in the initial real estate development, various efforts are being made to make fair opportunities more transparent to the general public by using new technologies such as blockchain.
Ecosystem that the Metacity Forum is aiming for
MetaCity Forum aims to contribute to creating a more transparent and fair ‘better world’ through MetaCity, a fusion of blockchain and metaverse. This collaboration with CROWDY is expected to serve as a cornerstone for providing new financial investment opportunities to the general public by utilizing the greatest strengths of blockchain.
In this way, for the expansion and vitalization of the MetaCity ecosystem, BOSAGORA is discussing cooperation with groups, institutions, and companies in various industries, and we will additionally share news with the community as soon as the ongoing consultation is completed.Crowdy