The multichain Web3 entertainment ecosystem Fellaz has revealed plans to build a social media network for musicians and their fan networks. The Fellaz team has recruited prominent performers and pop stars from Korea, Japan, Southeast Asia, and the rest of the world after months of planning.

The Fellaz team organized an exclusive opening event, Fellaz By the Bay, on July 14 on Sentosa Island, Singapore, in advance of the launch. The event was moderated by Felix, the platform’s lead producer, and was attended by a number of illustrious investors and businesses, including Binance, Warner Music Group, Rakuten, GS Ventures, IDEG, JAB Consumer Fund, Norges Bank, Krust, Republik, Le Freeport, Coin Hakko, and others. The event featured a number of well-known K-pop performers, whose combined fan bases number in the millions.

“Uptown Boy,” a unique song co-produced by Fantagio and performed by Miu, Fellaz’s first K-pop idol from the metaverse, was also featured at the event. Last but not least, the event organizers staged an auction for limited-edition Fellaz merchandise to benefit a Singaporean cause.

The ambitious goal of Fellaz is to define and create a Web3 entertainment ecosystem. Through a Web3-native infrastructure, the project will assist users from the entertainment sector in making the switch from Web2 to Web3. By giving them the tools to monetize their potential rather than using conventional Web2 platforms that depend on, and occasionally exploit, these fan networks for money, Fellaz aims to empower influencers, artists, and fans.

In this new setting, immutable nonfungible tokens (NFTs) stored on the blockchain will serve as the primary form of shared ownership for artists and users over their original works and derived works. The platform will determine fan participation and contribution using a metrics-based remuneration scheme. A motivated and enduring fanbase will result, enhancing the artist’s reputation.

Individual feeds will be a part of Fellaz’s decentralized social media platform where artists can post photographs, films, and audio recordings for their fan communities. Fans can interact with their favorite musicians by commenting, like, mirroring (reposting), and more. Additionally, they can buy subscriptions that get them access to exclusive content and platform-specific NFTs known as Lightsticks.

By demonstrating their support, fans may level up their Lightstick collections and earn experience points. Fans who level up their lightsticks will earn extra Fellaz (FLZ) tokens when they connect with their favorite musicians on the support-to-earn platform Fellaz. On Fellaz, creators may earn FLZ by interacting with their subscribers and fan base through original and premium content.

Additionally, Fellaz intends to grow its platform by developing a custom blockchain-based ticketing system for both real-world and virtual concerts, fan gatherings, and other associated sporting and entertainment events.

In addition, Fellaz will introduce personalized NFTs for fan bases, limited-edition products, exclusive airdrops from partners, a live-chat feature, personalized NFTs for stars, priority minting access to NFTs of their metaverse-native stars, and a leaderboard to rank artists, similar to how Billboard ranks musicians.

“We look forward to beginning our journey in the Web3 entertainment industry and will do our best to nurture and build a thriving community of artists, influencers, and fans,” said Bobby Bhatia, CEO of Fellaz.

About Fellaz

Fellaz, a multichain Web3 entertainment platform with a Singapore base, offers a decentralized fandom community infrastructure, NFT solutions for artists, and content creation and distribution for the metaverse. Fellaz, along with its network of international partners, is an ecosystem and one-stop shop created to assist companies, creators, and fans with the transition into the Web3 entertainment space by combining the best elements of the metaverse, decentralization, and NFT blockchain technology with original content and Web3 diversification.

About Bobby Bhatia

The CEO of Fellaz, Bobby Bhatia, has over 25 years of expertise in both public and private investment. He is a seasoned finance and technology executive, mentor, and entrepreneur. Bhatia is a pioneer in digitally altering and disrupting industries to build a more just world, from fintech to educational technology to financial services and blockchain technology. Bobby has worked in private equity in Asia since 1995 after receiving his degree from Duke and completing a Young Scholars programme at Stanford. Additionally, he served as the primary head investor for American International Group and was a founding member and principal of JP Morgan Partners Asia. Bobby also serves on the boards of Sentinel Capital and Livesports in Singapore, as well as Palma Capital in Dubai and Bharat Light & Power in India.

This is a paid press release. MetaWeb3 does not endorse or accept responsibility for the content, accuracy, quality, advertising, products, or other materials on this page. Before taking any actions related to the company, readers should conduct their own research. MetaWeb3 is not liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any of the press release’s content, goods, or services.