The number of companion animals(Pets) in Korea is 15 million, one in three people, and the market size is worth billions of dollars a year. In the past, Koreans focused on keeping animals, but recently, animals are considered members of the family.
As the related market has grown explosively, large companies are also starting pet-related businesses. A good example is that E-Mart, a famous large mart in Korea, opened an on·offline store dedicated to companion animals. Five-star hotels, Lotte Signiel and Walkerhill also introduced accommodation products that can be accompanied by pets. Global luxury brands such as Louis Vuitton and Prada are also knocking on the market with expensive Pet-products that cost over about 1000 dollars.
There are strong winds related to pets on social media. On global social networks such as Facebook, Instagram, and Twitter, the number of related contents have already exceeded 10 billion. The operator of 'Jeepform' with 10 million followers and 'Nala', a cat with 4.6 million followers, is being treated as a celebrity. Now, even a coined word 'pet influencer' has been created.
According to this year's 'Report on Travel with Pets' recently released by the Korea Tourism Organization, the average cost per person a night is 290,000 KRW for domestic travel with companion animals after Covid-19, and the average cost for each companion animal is 90,000 won. However, the problem is that cost aside, there is still not enough information about hotels, restaurants, tourist destinations, etc. That can be accompanied by pets in Korea. Despite this situation, about 74% of the survey subjects answered that they definitely want to travel with their pets. This phenomenon is called 'pet humanization'.
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| ▲ LEE SEONGGI, CEO of Meta Anp, “PETME WORLD, PET Platform based on sharing and reward'” Photo by PETME WORLD |
Recently, there is a company that is preparing a pet-related platform under the banner of ‘share and be rewarded’. The company's leader is LEE SEONGGI, CEO of Meta Anp Ltd, who has already shown excellent resourcefulness in blockchain-related businesses. We heard about the 'PETME WORLD' he is preparing for.
Q What is the background of business planning?
More than 95% of the revenue structure of representative SNS platforms such as Facebook, YouTube, and Instagram is advertising revenue. They do business using members' content, but do not pay reasonable fees to content providers. PETME WORLD is a platform that aims to ‘participate and share’. We designed this project for a platform that can be shared fairly with participants.
Q What is the core technology for building the platform?
A variety of technologies are applied, but the most important thing is that it is based on blockchain technology. As you know, Blockchain technology has strengths in many ways. It is safe to call the future the era of blockchain technology. In the future, there will be various platforms based on blockchain like ours. What is important is how well the reward system is in place will be the key to success.
We aim to be a cornerstone in building a decentralized companion animal web 3.0 ecosystem that will become the main pillar of the future industry. C2E (Create to Earn) SNS, which pays rewards, is the core of core technologies.
'PETME WORLD' is also an AI platform that provides outdoor information using location-based P2E AR/VR games and pet big data. Users can participate in the production or supply of content by just photos, videos, comments, and likes, and receive a ‘reward for the creation’ by doing so. The reason 'PETME WORLD' is important is that the contents related to pets created by members can be useful information to others. Participation is not difficult. You can upload photos or videos you take in your daily life or travel with your pet to 'PETME WORLD'
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| ▲ Photo by PETME WORLD |
Q you’ll launch games?
Next year, we plan to open a pet game as well. In this game, users can use their companion animals as game characters. This game also provides rewards for activities through P2E (Play to Earn).
Besides, 'PETME WORLD' will analyze the uploaded content information with AI and deliver it to users. We plan to create an ecosystem where we can grow together with our companions through these activities.
Q Will it require a huge investment?
We have already succeeded in raising about $600,000 in Hong Kong and Korea with the Project Seed Fund. And we are in close discussion with several domestic and foreign partners who are interested in 'PETME WORLD'. The companion animal industry is blooming in 60 countries around the world. The number of related animals is 1.8 billion. 'PETME WORLD' can grow into a global business. Because of Each year, the related industry is growing at an average of 7% or more. For a long time, we have been closely preparing to enter overseas markets.
Sayart.net
Sharon Jung, guhuijeong784@gmail.com
