According to Korean startup news site Platum (Korean link), P-Rep candidate Insight Protocol announced it had attracted strategic investments from VC Deblock and advertising DApp weBloc. The amount of investment was not stipulated in the article.

Insight Protocol: A quick profile

Insight Protocol launched and operates the ICON platform-based DApp ‘BlockInsight’. It is a specialized blockchain application that organizes DApps in various fields by category, as well as information related to blockchain news, analysis, meetups, airdrops, and so on. By reading information on BlockInsight, users can receive both INX coin (Insight’s native token) and weBloc’s WOK token.

If they get voted in as P-Rep, Insight Protocol promises to use BlockInsight to support ICON DApps and to contribute to the ICON network. You can read their full proposal here.

The investors: Deblock and weBloc

Regular readers of The Iconist should be familiar with Deblock, the blockchain accelerator in charge of the Seoul Launchpad of ICX_Station, the global accelerator program sponsored by ICON. Deblock is also running for P-Rep in a joint campaign with entertainment DApp Stayge.

weBloc, the second investor, is a well-known ICON DApp, aiming to create a decentralized advertising ecosystem. We featured weBloc’s P-Rep bid on The Iconist a couple of months ago.

A member of Insight Protocol said, “We are happy to be able to prove the value of our project through this institutional investment, considering that it has not gone through an ICO.” They said, “We will make further efforts to develop projects with real life use cases.” 

Meanwhile, Insight Protocol recently signed a content contract with Dunamu, the largest cryptocurrency exchange in Korea, to provide information on the price and price fluctuations of cryptocurrency indexes.