Ever since founding in 2012, Yea Studio has supplied a variety of apps (software solutions) with painting-related material. It is a company that has created and released coloring applications including ColorFil and Sandbox Color, which have had over 9 million installations and were voted the best leisure applications of 2017 in Google Play, as well as PainterUs, a real time painting streaming platform.
Developed on the basis of autonomous intellectual property (IP) laws, ‘Junimong’ has swiftly evolved as a painting social networking app utilized in 135 countries worldwide. It now has 2.5 million users and has been chosen as a worldwide highlight on the Google Play Store, receiving funding from East Gate Partners and IBK. It contains over 13 million consumer data points collected via different services and over 400 million paintings. Yea Studio wants to create Junimong NFT to meet the needs of content producers for NFT distribution and technical assistance.
Yea Studio’s concept and ethos are reflected in the moniker Junimong, which also acts as company mascot. As a compound term, it conveys the firm’s intention to attract young customers in a fun manner (Junior [Juni] + Monkey [mong]), and also the company’s intention to offer producers on the platform their dreams (give [juda] + dream [mong]).
The overall purpose of Junimong NFT is to develop a painting environment where individuals may converse and draw with their digital painting companions, and where producers, buyers, and curators thrive and share profits via NFT activities in the metaverse (digital domain). It is anticipated that the upcoming social events of this age of adolescents would include generating money via their passions in groups with similar inclinations. From this perspective, the portal is also meant to become a community service.
From this perspective, the portal is also meant to become a community service. the range of incentives that ensure their viability has been broadened to ensure a steady stream of creators and encourage their recruitment. Copyrights of artworks, such as works by artists affiliated with a specific website, often remain with the platform responsible for publication. In contrast, Yea Studio generates revenue by running business rights for advertising and promotion efforts and ensuring that copyright payments are consistently paid to artists, even when NFTs are traded.
In addition, after minting creative content, it will use the advertising and networking skills that Yea Studio has gained over time to promote them. As a result of delivering a variety of worldwide applications and services, the company has amassed 13 million client records throughout all applications.
Using its expertise in maintaining a painting network, Yea Studio intends to attract the involvement of current service customers. On this basis , it intends to safeguard NFT contents by connecting over 400 million painting items to the minting mechanism, and to proactively exploit the intellectual property belonging to Yea Studio, notably Junimong. The business now has six separate patents and is filing for fourteen more.
The advancement of block chain source technology also contributes to ongoing attempts to gain a competitive edge over competing initiatives. Yea Studio has recently partnered with ETRI (Korea Electronics and Telecommunications Research Institute) to contribute to the research and advancement of the PoN (Proof of Nonce) mechanism of consensus algorithm-related innovation, which significantly reduces the gas charge, which is equal to the Ethereum network user fee. After completing a verification procedure to increase its degree of accuracy, the business intends to market it by using the tech in its web/app services.
CEO Won-man Choi adds, “If you possess Junimong NFT, you get free access to the NFT minting mechanism for a maximum of 100 copies. It was also constructed with the collector’s economic benefit and prospective membership perks in mind, such as obtaining presents (by airdrop) of metaverse-linked NFTs and synthetic NFTs made by Junimong NFT makers. It may also foster a feeling of belonging and closeness with the community, for example, by enabling users to view the creations of their favorite artists more rapidly or by arranging unique opportunities for direct communication with contributors.”
As a participant of the Digital Content Company Growth Assistance Center, Yea Studio is advancing the introduction of an NFT service outfitted with an autonomous minting mechanism by enhancing corporate competencies through ongoing IR demo sessions and external PR and advertising assistance.