Our past few weeks have been a crazy ride. RISINGSTAR was established in 2019 with the sole focus on the volumetric video capture of artists and creators. We were targeting Gen Z, who wanted to dance with their favorites in their living room, and who wanted to experience concerts in a whole new way. However the Covid-19 pandemic has shown the world that virtual experiences are not just for kids, but they carry a great opportunity for all of us. In 2020, BTS the Korean boyband grossed over $19 million in ticket sales for their virtual concert, in 2021 over $71 million, and in 2022 over $90 million. Seeing this huge interest and knowing that we have the technology at our hands, we decided to tap into this market and to switch our focus. Instead just concentrating on Gen Z, we are now targeting all internet users. With this many new products and features in the picture, we are now going to give you a little bit of an overview of the upcoming platform. As we are talking about not just Web3 but also Web2 users, it is essential to have a clear understanding of how we will use decentralized technologies to reach our objectives and become the biggest entertainment platform in the Metaverse.
Enjoy your favorite artists in a way like never before. With RISINGSTAR you will be able to tune in to Metaverse concerts from your AR or VR-capable devices or even from your laptop. These experiences will be specifically tailored to virtual spaces and take you to a totally new level of entertainment. To join these, you can pay for your ticket with STAR tokens which you can also use to influence the concerts in a revolutionary way. Committing STAR tokens will enable you to change the environment or the course of events during the experience.
Ever wanted to challenge someone famous to do something but never had the chance? With RISINGSTAR this is not a dream anymore. You as part of the community can come up with any challenge and commit STAR tokens which the joining star will receive when completing it. Either it’s a charity or awareness challenge where we donate the committed tokens or just something fun, you name it, the possibilities are endless.
As part of the RISINGSTAR experience, you will be able to buy and collect NFT-s through various activities and the Marketplace. Participating in special events will grant you access to special collectibles which are not available to other users. NFT-s are not just going to have a value on their own, but they can act as a token for events, challenges, and more. Collecting all NFT-s from a collection will give you even more opportunities like accessing dynamic NFT improvements or burning NFT-s for real life merchandise and experiences. This strong integration with our platform and Next Earth will ensure that we can provide revolutionary NFT products.