Key Takeaways:
- LBank Exchange listed the ANCT token on May 23
- Following the listing, ANCT rallied nearly 25%
- The ANC platform brings K-Pop culture to the blockchain with NFTs, Crowdfunding and Community messenger
YEREVAN (CoinChapter.com) – LBank Exchange, a global digital asset trading platform, listed ANC token or coin (ANCT) on May 23, 2022.
The ANC token rallied nearly 25% after its listing and is trading at $0.09521 per coin. ANC serves as a decentralized fandom platform on the Ethereum network. It tokenizes the fandom activities of South Korean pop culture (K-pop) and creates a K-wave ecosystem on the blockchain.
As a result of the recent listing, traders can now officially access the ANCT/USDT trading pair on the exchange. Days earlier, LBank had shared the news of the upcoming listing on its official Twitter handle.
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Bringing K-Pop culture on the blockchain via ANC Coin
Noticing a wide opportunity, the ANC coin aims to gather the ever-growing fanbase of Korean pop music on the blockchain. According to the official website, the project hopes to ensure that Korean Wave fans worldwide can collaborate and create an efficient ecosystem.
The ANCT platform will provide fans services such as Crowdfunding, Fan Art NFT Market, Community, and Messenger, as indicated by its whitepaper.
“The ANC platform proposes a fandom platform using blockchain technology… to induce the joint participation of K-pop fans around the world and to create a new concept of fandom culture,”
the whitepaper reads.
The ANCT coin will be the transactional currency for all services provided by the platform. Fans can participate in crowdfunding activities by sending ANCT tokens. They can also buy fan-generated nonfungible tokens (NFT) using the token as payment.
The ANCT is an ERC-20 token with a total supply of 3 billion. Holders of the token also get a chance to participate in the democratic decision-making process of the ecosystem.
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K-Pop gives a massive platform to ANC token
South Korean Pop Culture has grown in popularity over the years to become a global phenomenon. Called the Hallyu, or the Korean wave, the industry has amassed a vast fan following. While Korean Dramas and serials are popular, K-pop, short for Korean pop music, leads the industry.
K-pop group BTS managed to set a new record by attracting more than 101.1 billion views within 24 hours for their 2020 hit song “Dynamite,” according to Statista.com. BTS contributed to 0.3 percent of South Korea’s economy, with $4.65 billion in revenue in 2018 alone.
The industry is so popular that its all-time high sales revenue was over 6.8 trillion South Korean won (over $5.3 billion) in 2019. It even achieved an export value of over 756 million U.S. dollars.
With fans rallying behind the industry, ANCT token could capitalize on their loyalty. Meanwhile, LBank Exchange has proven to be a safe platform with no hacks or attacks recorded so far.\
However, given how volatile the crypto market is and with the ever-increasing scams and rug-pulls, it is too early to determine how ANC coin will perform in the days to come.
