AMA RECAP Konnect (Aug 17th, 2023)
Last updated
Last updated
Q. : Please introduce yourself.
A. : Hi! My name is Chris Yoon, FOUNDER. It is my great honor to introduce our Konnect project at this DOKDO DAO AMA.
The Konnect project has been in progress for approximately three years.
I have been an entrepreneur in a traditional company for over 10 years, gaining experience in diverse fields ranging from manufacturing to finance.
Based on the experience I have accumulated so far, I had the thought that, “even in traditional industries, we can bring together different industries to provide overall benefits and contribute to improving human life,” This thought inspired me to take on the Konnect project with the aim of enhancing and revitalizing it, especially in areas involving interactions with foreigners and foreign exchange.
Q. : Please introduce the Konnect project.
A. : The Konnect project is a global crypto membership initiative designed to serve as a hub connecting the real economy with Web3 technology, by integrating the infrastructure of Web 2.0 business.
The Konnect project aims to utilize Web3 technology to provide various benefits of the alliance to global users. It is built upon a diverse infrastructure secured through over a decade of tax-free distribution business operations.
The project was initiated with the goal of creating a Konnect membership system, leveraging the know-how of the Konnect project to guarantee reasonable prices not only in Korea but also internationally.
Q. : Please introduce the Konnect team.
A. : The Konnect team is composed of members who have experience working overseas in various specialized fields and have managed large-scale projects. The team is divided into two main parts: Web 2.0 and Web 3.0.
Firstly, in the Web 2.0 team, there are members with over 10 years of experience in operating duty-free distribution and inbound travel agency businesses. They are responsible for connecting infrastructures related to duty-free distribution and inbound travel agencies, aiming to provide practical benefits to crypto users.
Furthermore, the sales and marketing department is composed of team members who have successfully marketed various projects using domestic and international networks. As a result, they leverage their expertise in overseas activities and large-scale projects from diverse specialized areas to lead Konnect’s sales and marketing efforts.
In particular, there are team members who are responsible for planning and leading sales activities and company expansion, ensuring that when foreigners visit Korea or when Koreans travel abroad, practical benefits and promotions can be provided.
In the Web 3.0 section, we have team members with over 5 years of experience in Web 3 consulting.
Additionally, The Web 3.0 team is composed of team members with over 5 years of experience in Web 3 consulting, as well as team members who have been involved in the development of X2E solutions and Web 3 development SI for several years.
In addition, I believe that considering it as a team, which involves multiple advisors analyzing the traditional financial sector, foreign exchange, and sophisticated fields, would be beneficial.
Q. : Do you have plans for any platforms other than the membership platform?
A. : We are gradually preparing medical platforms, crypto e-commerce, and crypto booking platforms with a strong emphasis on membership management programs, all centered around membership apps.
The medical platform is being designed as a platform for customers who visit Korea from abroad for medical tourism, in collaboration with Konnect membership. We are currently discussing ways to leverage points from telecommunications companies on the Konnect membership platform for mutual benefit.
The platform is scheduled to launch in the first half of next year and is being jointly built with four large domestic and foreign telecommunications companies, as well as the largest outbound travel agency in China.
The crypto e-commerce platform, leveraging our experience in operating Cross-border e-commerce malls such as WeChat malls and TikTok malls, will provide a wide range of benefits to Konnect.
The crypto e-commerce platform, separate from the benefits of Konnect membership, is planned to incorporate a more diverse range of benefits that partners were unable to provide due to the limitations of the membership platform.
We will develop a crypto booking platform specifically designed for B2C users from Konnect’s membership, medical, and e-commerce platforms. This platform will be built on a solid infrastructure, leveraging our strong buying power and partnerships with major flight ticket buyers.
Q. : Tell us about Konnect’s future plan.
A. : Let me outline our short-term and long-term plans for the Konnect project.
In the short term, our plans involve getting listed on domestic exchanges, implementing effective marketing strategies in Korea, and establishing partnerships with local governments.
We are actively preparing the necessary groundwork for listing on domestic exchanges and making steady progress toward achieving that milestone.
Starting at the end of August, we will ramp up our social media activities for marketing in Korea. Our aim is to raise awareness of the Konnect brand and attract a large number of subscribers.
Regarding cooperation with local governments, we are in discussions with Seoul, Incheon, and Busan to collaborate on efforts to attract foreign tourists.
Our long-term vision is to expand our business and form beneficial partnerships in Asia, the United States, and Europe.
Our goal is to create a network by bringing together users from various countries and establishing partnerships with reputable organizations, beginning with expansion into six Asian countries: Japan, Hong Kong, Thailand, Indonesia, Vietnam, and Singapore.
In the future, Konnect will gradually extend its presence to the United States and Europe, diversifying its business to include medical services, e-commerce, and booking services, all built on the foundation of the Konnect membership.
In the latter half of this year, Konnect will be accessible in more locations.
Stay tuned for further updates!
Q. : How did the idea of a Konnect membership come to mind for you?
A. : Having been in the inbound travel agency business for a long time, I regularly interacted with customers who moved between countries and realized that the current business system was inefficient in terms of fiat currency exchange. Additionally, it was difficult for users to obtain memberships in countries other than their own.
Given Konnect’s existing strong infrastructure that can offer B2B benefits to B2C without incurring additional costs, we believe that with the integration of Web3 technology, we can deliver impactful advantages and high-quality services to both local and international users through a borderless membership service.
Q. : What are the benefits of having a Konnect membership?
A. : One of Konnect’s basic slogans is ‘One Login & All Membership’.
First of all, with just one login, you can immediately access a certain level of membership benefits upon signing up, regardless of your location.
This means that users can receive the same high level of benefits in multiple countries, regardless of borders, for essential elements of cross-border travel, including air travel, hotels, transportation, and telecommunications.
This means that you won’t need to make any effort to increase your membership tier with a company in order to receive the benefits of membership.
We are currently in the process of connecting transportation cards, and telecommunications benefits are also being finalized before the contract is complete.
Membership utilizes various Web 3.0 convenience methods!
I believe that this is the greatest advantage of a Konnect membership.
Q. : How do I get a membership?
A. : There are two main ways to acquire membership.
1. Pay with fiat currency through in-app purchase.
2. Pay with KCT to receive weekly rewards through the savings program, and enjoy membership benefits.
First, you can acquire a membership through in-app payment using fiat currency or a credit card, allowing general users to utilize it just like a regular subscription service.
Secondly, Web 3 users can utilize our own token, KCT, for paying the annual subscription fee.
At the same time, you can earn KCT as a reward for performing missions through an internal program called the Saving Program, allowing you to regain membership.
Missions currently include activities such as attendance checks, and in the future, they will consist of fun activities like stamp tours and roulette.
Q. : How are KCTs and NFTs used?
A. : Let me explain the usage of KCT and NFTs.
First, the uses of KCT are as follows.
1) Used for membership registration.
2) Used for participation in X2E such as roulette, attendance check, stamps.
3) Used in dashboards such as my card, my stamps, etc., to customize cards or receive additional benefits.
4) To be utilized for governance (TBD)
KCT can be used to receive various benefits as described above, and we are currently building token utilities that will be used for governance in the future.
Here is how NFTs are used.
1) Membership NFT
NFTs representing an individual’s membership tier, which are currently unavailable for exchange or sale. (will be utilized for bundled sales in the future)
2) Goods NFT
NFTs, which were airdropped at last year’s event, can be exchanged for real-world assets such as Chanel NFTs through mystery boxes.
3) PFP
PFP, which is designed to provide additional benefits alongside membership NFTs.
Various alliances will continue to release membership NFTs.
Q1–1. How about running the attendance check app on a daily basis instead of weekly?
Do you have any plans to activate the app in order to increase its accessibility?
Q1–2. Are there any differentiated benefits for Gold membership holders? Will they be held through minting in the future? Will they be able to make purchases through KCT? And when will the Gold membership be available?
Q1–3. Do you have any plans to collaborate with K-culture in the fields of music and film?
A. : In the case of the app’s attendance check method, we initially developed it in a weekly format due to users’ tendency to forget daily check-ins. This decision was influenced by the possibility of users disengaging from the KCT savings program, which offers rewards.
We haven’t disclosed it yet, but the Gold membership will provide access to free nights, various coupons, and partner events.
We are currently working on the next five memberships. Although we have not yet disclosed it, we plan to enable subscription with either KCT or fiat currency up to the Gold membership level.
However, as our focus is on the development of Web 3.0, we are preparing to launch it in the second half of this year.
In terms of K-culture related collaboration plans, we have collaborated extensively with various enterprise companies, and we continue to utilize various collaboration tools.
Q. : The slogan ‘One Login & All Membership’ is a great idea. I am wondering about your plans for the convergence of WEB 2.0 and WEB 3.0, as well as the ultimate goal of Konnect.
A. : We are working diligently to enhance Konnect and make it more friendly towards Web 2.0 and Web 3.0 advancements. Our goal is to implement these improvements across different components of earn, ensuring that users in Web 3.0 can actively enjoy services benefits and tangible advantages.
Our goal is to become a leader in Web 3.0 membership services, providing global users with the ability to travel anywhere with ease and gain access to superior places and products at affordable prices.
Q. : Konnect’s benefits appear to be quite costly, how do you manage to sustain them? (Is there anything left over if you give them away that much?!)
A. : We have been in the business of directly connecting with foreigners for over 10 years, allowing us to have extensive knowledge of maximum discounts and unit costs in the B2B sector.
We have sufficient data history to provide the same benefits to users in Web 3.0, including offering actual discounts and official marketing promotions, among other reward sections.
The same holds true for duty-free shops, but there are various practical benefits in Web 2.0 that can be linked to Web 3.0, resulting in improved effects and advantages.
Q. : What is the Duman NFT, and what utility does it have?
A. : Duman NFT is a PFP NFT issued through Konnect’s own initiative.
We are exploring various arrangements to connect with local organizations and overseas countries, utilizing interesting and diverse IPs that align with the characteristics of PFP NFTs.
The various benefits received from the membership are provided according to the tier levels. However, we are currently planning the activation policy for the membership section, and Duman NFT is scheduled to be disclosed in the second half of this year.
Q. : Finally, in one sentence, what is Konnect?
A. : It will be the king of benefits worldwide.
