Star X Ventures Makes a Strategic Investment in FSN-Handstudio's NFT Project Sunmiya Club to Support Sunmiya Club's Global Expansion
Apr 19, 2022
Star X Ventures, a blockchain accelerator, announced on April 18 that it would make a strategic investment in Sunmiya Club, a PFP NFT project of FSN, a KOSDAQ listed company. On April 14, Star X Ventures announced the Sunmiya Club partnership. Through this strategic investment and partnership, Star X Ventures plans to actively support Sunmiya Club's global expansion efforts.
Star X Ventures, based in Singapore, is a blockchain accelerator company founded by the former managing partner Brian Han of Kakao's blockchain subsidiary, who also served as the branch manager of Chiliz Korea, a blockchain fintech unicorn. Zachary Keats, who served as the investment director of Ground X and is currently a venture investor of GS Group, also joined Star X Ventures as a business team member, enabling a wider scope of influence in the global market.
FSN and its subsidiary Handstudio launched the NFT project Sunmiya Club, utilizing Sunmi's IP (intellectual property) as a K-pop artist in February through their blockchain research arm Finger Labs. Sunmiya Club is the first NFT project for a female K-pop artist and has become a representative NFT project in Korea, successfully achieving a sellout at every release.
This investment is the first investment Star X Ventures has made in an NFT project, and it is the first case in which a domestic NFT project has attracted investment from a crypto fund. Star X Ventures is known as a company that provides multifaceted support in accelerating blockchain projects, ranging from financial investment to service planning, development, and marketing. Sunmiya Club has recently begun laying the groundwork for global market penetration by marketing campaigns such as putting Sunmiya Club NFT on display in Times Square, New York. The two companies are expected to engage in a concerted effort to bring further global presence.
Star X Ventures unveiled Fellaz, a web3 NFT platform for the next generation of entertainment business. Coined as entertainment 3.0, Fellaz aims to establish a web3 paradigm for the entertainment business where new value is created for creators and fans alike by incentivizing autonomous participation in building the brand while allowing fans to have ownership over the brand entity as its stakeholders using blockchain technology and NFTs, in particular. FSN-Handstudio recently signed a partnership with Fellaz through Star X Ventures. Star X Ventures plans to collaborate with Sunmiya Club in various ways, including designing and operating the tokenomics within the project ecosystem.
Star X Ventures CEO Brian Han commented, "I am delighted to announce this strategic investment in Sunmiya Club, Korea's leading NFT project. Sunmiya Club is already a top domestic project, and its reputation and impact are well verified by the performance at Opensea, the world's largest NFT exchange. At Star X Ventures, we plan to use our global network and resources to help maximize Sunmiya Club NFT's potential and market presence."
FSN CEO Lee Sang-Seok commented, "We have a high expectation that Star X Ventures' expertise and know-how along with their global network will help greatly in taking Sunmiya Club to the next level. We plan to become a pioneering project that leads the metaverse and blockchain ecosystem through the continued provision of holder benefits and project development down the road."
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Original Source: Star X Ventures Makes a Strategic Investment in FSN-Handstudio's NFT Project Sunmiya Club to Support Sunmiya Club's Global Expansion
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