NVT "Addison Offerwall, Shopping Transaction Volume Grows 300% Year-on-Year"

[Asia Economy Reporter Hyunseok Yoo] NBT, a KOSDAQ-listed company, announced that the shopping transaction volume of its mobile point platform 'Adison Offerwall,' operated as a new business, grew by approximately 300% year-on-year last year.

On the 28th, NBT revealed that the shopping transaction volume of 'Adison Offerwall,' which was about 1.2 billion KRW in 2019, significantly increased to approximately 3.6 billion KRW within one year. The company expects a steep growth trend to continue despite the impact of COVID-19, as the number of products (SKU) has recently increased from 333 in May last year to 3,000.

Adison Offerwall operates under a 'Shop and Earn Points' business model, where media companies sell products through the Offerwall network and share the profits. As a mobile platform, anyone can easily integrate commerce by adopting the Offerwall. Users can purchase products and earn points accordingly, which can then be used to consume paid content on the respective media platform.

The company plans to introduce a ranking system and curation features through continuous updates, providing a shopping environment tailored to the characteristics of each media outlet, as Adison Offerwall has shown strong growth since its early stages. Currently, media partners such as Naver Webtoon and Naver Pay, which are affiliated with Adison Offerwall, exhibit differences in age groups and interests, so the company intends to support product curation services customized to each media's characteristics.

Park Sugeun, CEO of NBT, stated, "We are expanding our business areas into various categories such as advertising, shopping, and content with the goal of becoming a mobile point platform." He added, "Leveraging the technical and business capabilities accumulated over the past eight years, we will rapidly grow the point shopping business segment to around 20 billion KRW this year."