WOK, the utility token of blockchain-based advertising platform weBloc, is now a listed and tradable digital asset.
Singapore-based digital asset trading platform VELIC listed weBloc’s WOK on Wednesday afternoon. VELIC is also the first exchange to offer a WOK-ICX trading pair.
Steve Cho, weBloc’s head of global business, explains that listing on VELIC was a natural choice. After all, weBloc conducted its token generation event in ICX only. With all that ICX raised from its supporters, VELIC’s ICX trading pairs only made sense. It also makes things easier for advertisers participating on weBloc’s platform. Cho says, “If we need to provide WOK tokens to our advertisers who have no idea about crypto, we can more easily tap into WOK tokens on the market for advertisers willing to post their ads.”
Sitting down with The Iconist about 40 minutes prior to listing, Cho could not repress his excitement. “We’re fulfilling a promise to our supporters,” he says, pointing to the project’s pledge to launch its services and get itself listed on exchanges in the first half of 2019. He was quite pleased with transaction speeds during testing, too. The weBloc team is also considering listing the WOK at exchanges with open KRW markets, he says, aiming to attract new users.
VELIC enjoys strategic partnerships with the ICON Foundation and Deblock, ICON’s accelerator. As would-be P-Reps, weBloc and VELIC are also working together to expand and deepen ICON’s ecosystem.
As important as the listing is to weBloc, Cho adds that the platform wants WOK holders to do more than just rush to VELIC and sell them. To encourage this, the team is working to create more and more services where users can put their tokens to good use. Last week, for instance, weBloc began offering tokens to users of PAY WOK, its new blockchain-based mobile advertisement rewards service. PAY WOK is part of weBloc’s effort to scale up, to convince more advertisers to take part by demonstrating to them the utility of good, transparent data.
The more advertisers who participate, the more the demand for WOK. And the higher the token’s value.
As The Iconist reported after another recent sit-down with Cho, weBloc has several other services in the works, too. One is JUBJUB, which will reward users who frequent cafes on the resort island of Jeju and provide local authorities with valuable data on tourist trends. Cho likens it to Pokemon Go – users use a map of participating cafes to collect WOK by visiting the marked establishments. He’s hoping cooperation with the local government will help promote the service once it launches. He also sees great potential for expanding the service to other countries, cities and services – for instance, arts venues in Seoul, bars in New York or foot massages places in Thailand.
Cho notes that though weBloc has decided to delay the launch of the advertising DApp weCon so they can make it a bit easier to use and integrate, users are greeting another service – the fan-driven K-pop ranking system IDOLTODAY – with surprising enthusiasm. Every day, fans are using the service to leave their favorite stars messages. Cho says, “I got a glimpse of how fandom works.” The DApp is available on Google Play; an iOS version will hopefully be available soon too.