The 2023 Dubai Crypto Expo was held where 38 countries and over 200 global projects participated.
Among the participants of the event, Khanaires made a new appearance in the market. Khanaires is a South Korean company which specializes in securitizing tangible/intangible assets. Their new registration in Dubai has been announced at the Dubai Blockchain Expo 2023, and they introduced a new concept called ‘Prosumeller’ which is a new economic theory which is the basis of their new product called NFW and their new market of SEMI-DEFI.
We are more familiar with the word NFT. But what is NFW? NFT stands for Non-Fungible Token, and it means that something is unique and cannot be replaced by a certain price or value. Every NFT contains a digital signature which makes it unique. NFW (Non-Fungible Warrant) is actually the same, except it focuses on another function that all NFTs also have but are never used; warrant. NFW is buying and selling intellectual property with copyright security within the ‘Prosumeller’ economic theory. Unlike any other NFT in the world, the profit structure of NFW is backed up by patents and copyrights that are owned by Khanzzang, the owner of Khanaires, himself. His patents and copyrights are very powerful IPs which are game changers in the world market. Because of this powerful tool, NFW holders are able to receive special types of royalty that the market has never expected.
What is SEMI-DEFI?
The crypto world has had many changes and evolution in terms of technology, and decentralized finance is the concept that changed the market mostly. Using smart contracts, developers have come to enable a sophisticated dapp which allows people to convert certain tokens into another, just like exchage sites; except they are decentralized. These platforms have announced their projects, and also were able to sell their native tokens into the market. However, these actions have been questioned by the SEC for security issues. Khanaires focused on solving this problem since 2018. Their product, NFW, has the same function of royalty distribution, but is focused not only on transaction but rather on the dividends occurred by copyright and patent royalties that are connected to their products. Their main service, Khanteum, is an app that resembles youtube or tiktok where anyone can upload their talents and values into a video format and receive sponsoring by recieveing a PUSH which is recharged by viewers of that platform. The prosumeller concept is used in this structure, and there is one more concept that is added; this platform only allows national fiat to be traded to recharge their currency. They call this new concept ‘SEMI-DEFI‘. Adapting this same method, they have been selling their nfts, and have been paying taxes to the Korean government for 5 years; VAT and other income taxes. 5 years of fiat trading, and loyal tax payments have allowed them to conduct their NFT sales without worrying about securities issues. They call this new method the next solution to legalizing the de-fi concept, the SEMI-DEFI.
Khanaires, which has been selling its products in South Korea, has been crowdsourcing the voting process for Khanaires’ products through SNS by Khanzzang, the creator of the economic theory ‘Prosumeller’, and their 15,000 members. Since 2018, based on the invention patent of the ‘Auction Type Forward Trading System’ and the patent of the ‘Method of Sharing Receivable Rights’ derived from intangible assets, they have generated more than 65,000,000 USD in added value and income for members over the past 5 years. In the process, they have announced the world’s first achievement of fully paying all value-added taxes and other income taxes without applying securities transaction tax or dividend income tax.
Prosumeller is an economic model in which consumers source ideas from the crowd as producers, and companies outsource the development of members’ ideas into products, so that members make all the products themselves and share the profits. Khanaires has been servicing the Khanteum app, which incorporates the Prosumeller economic theory, for five years in Korea, and has registered Khanaires LLC in Dubai on the occasion of this Crypto Expo to globalize the Khanteum service.
Khanaires‘ economic activity over the past five years in South Korea was the first demonstration of SEMI-DEFI, free from the securitization judgments that financial regulators have imposed on the global crypto industry. For this achievement, the company won the ‘Best Innovative NFT Marketplace’ award on the final day of the competition at the 2023 Dubai Crypto Expo, which was well-received by the judges and many Expo attendees.
KHANAIRES, a south korean company introducing the concept of SEMI-DEFI to the world community with its PROSUMELLER ECONOMY THEORY. It introduces the new approach of NFTs as NFW (non-fungible Warrant) along with its registered patents ” 2016 Contention – Type Forward Transaction System” and “Online Sharing System For Warrant to Receive and Sharing Method of Receivable Rights” which are connected patents.
KHANAIRES is successfully implemented and paying taxes in Korea for last 5 years. It successfully clears the problems of Howey Test and implements NFW to trade in l fiat currency. This has been a revolutionary innovative concept in the markets of Crypto Currency and DEFI concepts.
- Shiju Bavakkadan,
- Khanaires LLC,
- South Korea.