Qfora Announces Full-fledged Entry into the Blockchain-based NFT Business
- Platform that evaluates the design value of fashion products
- Hub for investors, creators, distributors, and buyers in the token economy ecosystem
- Offer opportunity to create, sell, and trade with NFT on the FDEX platform
SEOUL, KOREA / ACCESSWIRE / May 25, 2021 / Qfora Alliance (Chairman Phillip Hong) announced on May 13th that the company will enter into the NFT business based on the FDEX (Fashion Design Exchange) platform.
Qfora's FDEX (Fashion Design Exchange) is a platform for evaluating the design value of fashion products through interactions between designers, investors, producers, distributors and buyers in the Blockchain token economy ecosystem.
When designers submit designs through the IDO (Initial Design Offering) system on the FDEX platform, fashion-related companies or investors will fund the design, and the funding will be used to produce apparels. This is a structure that separates design values from fashion products.
Andy Choi, the Chief Executive Officer of Qfora, says, "By adding the NFT marketplace to the FDEX platform, we plan to provide new opportunities to create, sell, and trade the works and copyrights of amateur and famous fashion designers around the world."
NFT is a non-fungible token, and the asset cannot be duplicated or exchanged, different from other cryptocurrencies. While other cryptocurrencies can be exchanged for another currency, NFT is a cryptocurrency that is not mutually interchangeable. Therefore, each non-fungible token is a one-of-a-kind asset, and it is possible to prove irreversible transactions.
The FDEX platform plans to secure a variety of high-quality fashion works and copyrights through NFT by means of fashion designer training programs, collaboration system with world famous designers, celebrity promotions, events, special exhibitions and contests.
In addition, QUROSIA, which is the utility token of the FDEX platform, is used to participate in IDO funding of a specific design. Profits are then distributed according to the sales results, and the profits generated by purchasing NFT shares are distributed according to the shares. Some or all of the NFT shares can be sold.
"As music streaming platforms have developed new business models in the music industry, Spotify has grown to be the world's biggest music streaming platform. With increasing popularity of digital media platforms, Netflix has become the number one digital media player. Likewise, fashion tech platforms have potential to grow at faster pace. Qfora will become the number one fashion global company through the activation of the IDO system and NFT marketplace on the FDEX platform." Andy Choi, the Chief Executive Officer of Qfora, said in a statement.
Media Contact
Company: Qfora Alliance
Contact: Hong Youngmin
Telephone: 82 1047886109
E-mail: [email protected]
Website: http://www.qfora.co.kr/
SOURCE: Qfora Alliance