Dunamu to make leap forward as global platform

The corporate logo of Upbit is displayed at its headquarters in Seoul in this file photo. Yonhap

By Yoon Ja-young

Dunamu, the operator of the nation's largest crypto exchange, Upbit, is accelerating its pace to make a leap forward as a global trading platform.

Dunamu set up Levvels, a joint venture with HYBE in the U.S. early this year, driving its efforts to take on the global market on top of the U.S. market. Its metaverse platform, 2nd Block, as well as Upbit NFT are also getting the spotlight, as the two main pillars in the plan envisioned by Dunamu are expected to create a synergistic effect with diverse businesses through organic connections.

Dunamu has been leading the trend here, presenting innovative services including Stock Plus, Upbit and Stock Plus Unlisted, by grasping the changes of the era in time. It has been the frontrunner of the market thanks to its status as a “trading platform,” which enables the trading of anything with value in a convenient and safe manner through technology. Dunamu plans to use this recipe of success once again, to rise as a global platform that links the world of blockchain with the real world and expands the items available for trading.

For this, Dunamu has set out “Connect & Unlock Value” as its new corporate vision, and chosen “maximization of value,” “diversification,” “globalization” and “sustainability” as four core values. Dunamu plans to establish trading channels of all digital assets and secure continuous growth momentum by unearthing new opportunities such as with the metaverse and NFTs. It plans to take a full swing to advance into the global market based on partnership, and invest 100 billion won by 2024 while making the borderless expansion to establish its own ESG practices.

2nd Block, first domestic metaverse platform to include video chat

Upbit's logo

2nd Block, a metaverse platform, is another innovative service unveiled by Dunamu. It was first presented as open beta service in November of last year, and the official version is scheduled to be launched within this year. It features communication that resembles that of the real world, intuitive use encompassing all generations and multi-purpose application.

Unlike other metaverse platforms in the country, it includes video chat, lowering the barrier between online and offline interaction and maximizing its expansion into the real world. It enables diverse forms of communication through group zones, and it has improved user convenience based on an intuitive and simple two-dimensional User Interface (UI). It allows up to 60,000 simultaneous users in a single space, which is the biggest a metaverse platform can offer so far. It has diverse applications, from small private gatherings and university lectures to business meetings and exhibitions or concerts. One can freely open up space and invite users. 2nd Block plans to improve user experience and set up a more elaborate metaverse ecosystem through the continuous upgrade of services.

Upbit NFT, a trustworthy NFT trading platform

Upbit NFT is a curated market where only NFTs that have passed screening are traded. It started beta service in Nov. 2021, and is composed of Drops and Marketplace. At Drops, NFTs issued by creators from diverse sectors such as pure art, sports, broadcasting, fashion and game illustration are sold through an English auction, a Dutch auction or at fixed prices. At Marketplace, users can trade NFTs they bought from Drops or NFTs they have collected through Upbit's NFT airdrop event. It maintains a virtuous cycle, as part of the trading commissions are shared with the creators. It also plans to launch diverse programs for creators, including unearthing talented new artists and supporting them.

Dunamu thus has signed partnerships with diverse entities, including Seoul Auction Blue, to secure NFT-related content. A consortium led by Dunamu was also selected as the exclusive official partner of KBO's NFT digital project, leading efforts to develop digital content in sports.

Levvels, Dunamu's blockchain platform business

Jointly set up by Dunamu and HYBE, Levvels aims at bringing in exciting change in the daily lives of culture and art lovers around the world by combining blockchain technology with the intellectual property of artists. It expands fandom culture through Momentica, a digital collectibles platform, and offers a digital playground where artists can communicate with their fans in a new way.

Scheduled to be officially launched soon, Momentica enables users to record, collect and trade diverse moments of their artists in the form of digital collectibles. The users can keep undisclosed pictures, video content and performance scenes on stage in the form of digital cards, and they are stored in the low-carbon emission blockchain, Luniverse, which has effectively cut down electric power consumption. Levvels thereby realized its brand philosophy of aiming for carbon neutrality through coexistence of digital technology and the environment.