[PRESS RELEASE – Singapore, Singapore, 19th July 2022]
Fellaz, a multi-chain Web3 entertainment ecosystem, announces the upcoming launch of its social media platform for artists and their fanbases. Through months of preparation, the Fellaz team has onboarded notable entertainers and pop stars from Korea, Japan, Southeast Asia, and the rest of the world.
In preparation for their launch, the Fellaz team held an exclusive opening event, ‘Fellaz by the bay,’ on July 14th at Sentosa Island, Singapore. The platform’s Chief Producer, Felix (BAYC#8169), hosted the event, and many notable investors and companies, including Binance, Warner Music Group, Rakuten, GS Ventures, IDEG, JAB Consumer Fund, Norge’s Bank, Krust, Republik, Le Freeport, Coin Hakko and more were in attendance.
The event revealed several famous K-pop stars whose combined fanbases top several million. The event also showcased ‘Uptown Boy,’ an original song co-produced by Fantagio and performed by Miu, Fellaz’s first metaverse-native K-pop idol. Lastly, the event coordinators held an auction for exclusive Fellaz merch to support a local cause in Singapore.
Fellaz has the ambitious mission of defining and paving the way for a Web3 entertainment ecosystem. The project will help users from the entertainment industry transition from Web2 to Web3 through a Web3-native infrastructure. Fellaz hopes to empower influencers, artists, and fans by providing them the tools to monetize their potential instead of using traditional Web2 platforms that rely on (and sometimes exploit) these fan communities for revenue.
In this new environment, artists and users will have shared ownership over their creations and derivations in the form of immutable NFTs stored on the blockchain. The platform will use a metrics-based compensation system to determine fan participation and contribution. This will lead to an incentivized and sustained fanbase, furthering the artist’s reputation.
Fellaz’s decentralized social media platform will feature individual feeds where artists can post images, videos, and audio recordings for their fanbases. Fans can comment, like, mirror (repost), and interact with their favorite artists. They can also purchase subscriptions, which give them access to premium content and platform-native NFTs called Lightsticks.
Fans can gain experience points or XP and level up their collection of Lightsticks by engaging in a set of actions that show their support. Since Fellaz is an S2E or support-to-earn platform, fans who level up their lightsticks will earn more FLZ as they interact with their favorite artists. Fellaz is also a C2E or create-to-earn platform allowing artists to earn FLZ by engaging their fanbase and subscribers with original and premium content.
Fellaz also plans on expanding its platform through a proprietary blockchain ticketing solution for both IRL and metaverse concerts, fan meetings, and other related events in entertainment and sports. In addition, Fellaz will be launching priority minting access to NFTs of their metaverse-native stars, limited-edition goods, exclusive airdrops from partners, a live chat feature, and personalized NFTs for fanbases, and a leaderboard to rank artists much like Billboard does with music artists.
Bobby Bhatia, CEO of Fellaz, commented, “We look forward to starting our journey in the Web3 entertainment space and will do our best to nurture and cultivate a vibrant community of artists, influencers, and fans.”
Based in Singapore, Fellaz is a multi-chain Web3 entertainment ecosystem providing content production and distribution for the metaverse, an NFT solution for artists, and a decentralized fandom community infrastructure. Alongside its network of global partners, Fellaz is a one-stop solution and ecosystem designed to help businesses, creators, and fans transition into the Web3 entertainment space by taking the best from the metaverse, decentralization, and NFT blockchain technology and integrating them with original content and Web3 diversification.
About Bobby Bhatia
Fellaz CEO, Bobby Bhatia, is a seasoned finance and technology professional, mentor, and entrepreneur with over 25 years of public and private investment experience. From FinTech to EdTech to financial services and blockchain technology, Bobby is a pioneer in digitally transforming and disrupting industries to create a more equitable world. After graduating from Duke and completing a Young Scholars program at Stanford, Bobby has worked in private equity throughout Asia since 1995. He also was the principal head investor at AIG, and Principal and Founding Member at JP Morgan Partners Asia. Moreover, Bobby is a board member at Palma Capital (Dubai), Bharat Light & Power (India), Livesports (Singapore), and Sentinel Capital (Singapore).