Netccentric to launch Web 3.0 creator platform in joint venture with RedSquare TechnologiesNetccentric to launch Web 3.0 creator platform in joint venture with RedSquare TechnologiesNetccentric to launch Web 3.0 creator platform in joint venture with RedSquare TechnologiesNetccentric to launch Web 3.0 creator platform in joint venture with RedSquare Technologies
  • About Us
    • Left
      • Left
    • Center
      • CenterAbout Us Careers
    • Right
      • Right
        ABOUT US

        Discover our story and expertise. Get to know us better, understand our activities, explore our offerings, and discover how we can build synergies to accomplish shared objectives.

        CAREERS

        Explore Opportunities: Join our team and be part of a dynamic company dedicated to innovation and success. Discover your career path with us.

        CAREERS

        Looking for a challenging and rewarding career opportunity? Check out our open positions, so you can find the right fit for your skills and interests. Join our team and help us make a difference.

  • Contact Us
Netccentric Aims To Become Web 3.0 Creator Platform
26 Jul 2022
Netccentric-Nuffnang set to ignite NFT ecosystem, bringing Web3.0 to life in Malaysia
13 Oct 2022

Netccentric to launch Web 3.0 creator platform in joint venture with RedSquare Technologies

26 Jul 2022
Categories
  • Media Coverage
Tags
  • Small Caps

Netccentric (ASX: NCL) has unveiled it is launching a Web 3.0 creator platform in joint venture with Malaysia-based software development company RedSquare Technologies.

The duo will launch NFT Technologies Sdn Bhd (NFT Tech), which Netccentric says will place it at the forefront of the Web 3.0 revolution, and give brand owners the ability to issue non-fungible tokens (NFTs) in collaboration with influencers in a “cost-efficient and friendly manner”.

Netccentric will invest about $200,000 into developing NFT Tech, and issue it a loan up to the value of $133,000.

“The NFTs issued by the platform will provide real-world utility and applications, enabling consumers to earn rewards and enjoy unique experiences with their favourite influencers. For brands, the tokens will provide opportunities to increase revenue, build loyalty and gain access to Web 3.0 analytics,” it added.

Initially, Netccentric will hold all of the 600,000 initial shares of NFT Tech. However, under the joint venture, RedSquare can become a shareholder by injecting “assets and intellectual property” rights linked to four key milestones. If all milestones are met, RedSquare can own a 40% interest in NFT Tech.

“We are delighted to launch NFT Tech in partnership with RedSquare and are excited by the opportunity to develop Netccentric into a Web 3.0 creator platform,” Netccentric executive chairman Ganesh Kumar Bangah said.

“We are building the infrastructure for digital content ownership on the internet and apps that make it possible for the layman to use.”

“NFTs in our mind are not only asset class, but a technology to help us hit our goal.”

Mr Kumar Bangah said the NFTs on the new platform will carry utility – meaning they can be exchanged for physical goods, services and rewards from well-known brands which are already spending money to attract and retain consumers.

“Our ultimate aspiration is to become as indispensable to digital creators as the design software platform Canva is to designers.”


Unique proposition

Mr Kumar Bangah said the joint venture will “empower” the group to “stand out” by providing a “unique online-to-offline proposition” to its brand clients and influencer network.

“We see a strong growth trajectory ahead for well-regulated NFTs that provide safety, security, credibility and a positive user experience.”

Mr Kumar Bangah added that through NFT Tech, the company looked forward to bringing NFTs with real-world utility to the masses.


NFT Tech

It is planned NFT Tech will generate revenue through two business models.

The first model is aimed at large brands and enterprises and will comprise NFT Tech consulting, developing and assisting brand owners in creating and managing NFTs in collaboration with influencers.

This revenue will be based on a managed service where NFT Tech will provide design, software and mobile app for users to use the NFTs. It will have an influencer marketing mechanism powered by Netccentric’s existing Nuffnag social influencer and content marketing platform.

NFT Tech will collect a monthly subscription and a royalty fee every time an NFT is transacted.

The other avenue of revenue generation is a software as a services (SaaS) model.

In this division, NFT Tech will provide a creator application via a SaaS for small-to-medium enterprises and creators.

Netccentric says this a more affordable offering for clients with lower budgets.

Similar to the first business model, revenue will be collected via a monthly SaaS subscription along with a royalty for each time an NFT is transacted.

SHARE TO
Share
0

Other Updates

14 Jul 2023

The Merchist by Nuffnang exclusively launches official Polis Evo 3 merchandise with Astro Shaw


Read more
03 Jul 2023

Nuffnang wins Gold Influencer Agency of the Year award


Read more
27 Jun 2023

Nuffnang bags Gold Influencer Agency of the Year Award at Malaysian Digital Association’s d Awards 2023


Read more
Netccentric to launch Web 3.0 creator platform in joint venture with RedSquare Technologies

Xamble Technologies Sdn Bhd is a subsidiary of Xamble Group Limited, a public-listed company on the Australian Securities Exchange (ASX:XGL).

COMPANY
About Us Careers  
DOWNLOAD OUR APP
Apple App Store Google Play Store
LEGAL
Terms of Service Privacy Policy  
GET IN TOUCH
Contact Us
FOLLOW US ON
Netccentric to launch Web 3.0 creator platform in joint venture with RedSquare Technologies
Let's Connect!
Hit Us Up!
Netccentric to launch Web 3.0 creator platform in joint venture with RedSquare Technologies
Netccentric to launch Web 3.0 creator platform in joint venture with RedSquare Technologies
© Xamble Technologies Sdn Bhd. All Rights Reserved. BACK TO TOP