What is SSG
Tokens
1. Project Introduction
SOMESING is a blockchain-based global mobile karaoke app designed to address issues such as profit-sharing for creators on platforms, low-quality karaoke apps, paywall barriers, and nontransparent copyright and music supply sources. Running on the Klaytn blockchain, Somesing motivates users to upload karaoke recordings by rewarding them with tokens. The tokens are funded by other users who donate tokens to their favorite singers. Singers receive 60% of the donated tokens, while SOMESING retains 20%, and the remainder is allocated to copyright fees and community maintenance. On January 27, 2024, its vulnerability was exploited, resulting in a loss of 730 million native SSX tokens, valued at over $11.5 million. In March, a new token called "SSG (SomeSinG)" was issued to prevent further transfer and liquidation of the SSX tokens stolen by hackers.
Summary: SOMESING provides social music services on Klaytn, where users can earn content rewards through participation.
2. Team & Investment Info
Heuibae Kim: CEO, graduated from Hongik University, CEO of EMEL Ventures Inc., and COO of Karaoke O2O service company;
Hyunkeun Yoon: COO, Vice President of Emel Ventures Inc.;
Funding: In November 2023, SOMESING signed an investment attraction agreement with DWF Labs. This marked an additional investment in SOMESING by the Web3 ecosystem fund under DWF Labs, which had previously invested in SOMESING in 2022;
3. Social Media URLs
X: https://x.com/somesinglovers
Telegram: https://t.me/somesinglovers_EN
YouTube: https://www.youtube.com/channel/UCKMFF3-ahSYb-SwVc3mez0Q
Medium: https://singlovers.medium.com/
4. Token Info
Token Symbol: SSG
Total Supply: 5,000,000,000
Token Type: Klaytn
Issuance/Burn Mechanism: Token burning and freezing mechanisms
Contract Address: https://klaytnscope.com/token/0x63dec0c0cf911d8967446ce422dd31f13e1e0556
5. Related Links
Official Website: https://somesing.io/
LinkedIn: https://www.linkedin.com/company/somesing/
Other Info: https://www.rootdata.com/zh/Projects/detail/SOMESING?k=MTQzOA%3D%3D
Note: The project introduction comes from the materials published or provided by the official project team, which is for reference only and does not constitute investment advice. HTX does not take responsibility for any resulting direct or indirect losses.
