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| The Asia Model Festival Organizing Committee (AMFOC) and Uzbekistan cryptocurrency exchange UZNEX reached a marketing partnership agreement on Tuesday. Courtesy of AMFOC |
By Lee Min-young
The Asia Model Festival Organizing Committee (AMFOC) and Uzbekistan cryptocurrency exchange UZNEX have reached a marketing partnership agreement to further promote the Asia Model Festival ― an annual event to select Asia's next top model and forge cultural ties between Korea and other Asian countries in the fields of fashion and beauty.
"I hope this agreement will become a chance for us to meet blockchain technology which will stretch our fashion platform into a wider business model for the global market," AMFOC President Yang Eui-sig said during a ceremony to sign a memorandum of understanding with the cryptocurrency exchange on Tuesday.
UZNEX is Uzbekistan's new digital asset trading platform. It is operated by the Korean company Kobea Group.
Under the agreement, UZNEX will use the Asia Model Festival to promote its token UZNEX coin (UNB) while AMFOC will be seeking ways to create a new business model incorporating blockchain technology and fashion modeling content.
The organizing committee is set to explore new avenues through a fresh corporate body "AMF GLOBAL," which will be dedicated to recruiting, educating and managing influencers as well as developing fashion and beauty products based on blockchain technology.
AMF GLOBAL will also expand into TV drama production and distribution by operating a media commerce platform. The company is now co-producing the Uzbekistan government-supported drama series "The Star of Tashkent" with production company KorTop Media.
The drama is expected to air through the IPTV service and OTT video platforms in Commonwealth of Independent States (CIS) nations this year.
