[Asia Economy Reporter Hyungsoo Park] Fingger is gaining momentum. An analysis by securities firms suggests that the project to build the country's first financial metaverse platform is progressing smoothly, influencing the stock price. Fingger is currently working with NH Nonghyup Bank on the construction of a metaverse platform that introduces a financial system for the first time in Korea. The platform, tentatively named 'Dokdo Bus,' aims to open in the first quarter of next year. Dokdo Bus operates on the same time zone as reality and allows content such as fishing, farming, and combat. A metaverse branch, which will serve as NH Nonghyup Bank's virtual financial center, is scheduled to open, and it will be linked with the services of NH Nonghyup Bank's mobile banking app, All One Bank.
As of 9:56 AM on the 16th, Fingger was trading at 23,700 KRW, up 20.3% from the previous day.
Researcher Kim Doyoon from Research Alom explained, "In Dokdo Bus, game items such as residency rights and real estate will be issued as NFTs," adding, "Distribution will be conducted through the affiliate Micro Credit Chain."
He continued, "They will generate revenue from NFT issuance and transaction fees," and added, "Leading with NH Nonghyup Bank, major domestic banks will open metaverse branches in Dokdo Bus."
Furthermore, he emphasized, "There is also the possibility of building new platforms individually," and said, "This is positive for securing a user base."
He analyzed, "NH Nonghyup Bank's SNS followers have surpassed 3 million for the first time in the banking sector," and noted, "As the number of users increases, the value and interest in NFTs within the platform will gradually rise."
Researcher Kim predicted, "Dokdo Bus NFTs are just the starting point," and forecasted, "The NFT platform business through collaboration with affiliate Micro Credit Chain will also gradually expand."
Micro Credit Chain plans to launch a competitive bidding service using 'Yeolmae,' which can be exchanged for its own token MCC to be issued within the year. The next version will also release a Yeolmae bidding NFT version. Researcher Kim said, "The development team has already started preparations for the release of the Yeolmae bidding NFT version," and added, "Currently, it is understood that NFTs within Dokdo Bus will be released as products." He expressed expectations that the platform's value will gradually increase as additional NFT content is secured.
According to the Bank of Korea Economic Statistics System, the proportion of smart banking in bank transaction channels increased from 39.4% in 2015 to 66.6% in 2020. As the volume of non-face-to-face channel transactions increases and banks expand investments in online platforms, metaverse platforms are expected to emerge as the next-generation channel following smart banking. From the banks' perspective, which need to sell financial products to customers, a structure that encourages continuous, voluntary, and convenient branch visits through content such as games is attractive. Considering the competitive relationship among banks, Researcher Kim expects that if one bank successfully opens a metaverse branch, other banks will follow suit. He said, "We look forward to client companies' love calls for Fingger, which holds the largest number of smart financial platform construction references in Korea."
He introduced the company as "possessing numerous patented AI and blockchain fintech core technologies developed first in Korea," and said, "It is a company with excellent capabilities to commercialize these technologies and translate technology development into sales."
He added, "They have built global services in Vietnam through Tossbina, Shinhan Bank, Lotte Card, and Lotte Capital," and explained, "Along with experience localizing financial platforms and solutions for clients in Vietnam, they have secured 210,000 Vietnamese customers through their own small overseas remittance service app, Rele Transfer."
He continued, "They plan to expand their fintech business in Vietnam by developing their own O2O platform," and emphasized, "After entering the Vietnamese market, they expect to expand overseas by building global services in more than 10 countries including China, Taiwan, and Indonesia."
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