Summary

PBCN INC's FOG Coin-based FOGNET platform is a real estate NFT platform based on the Ethereum blockchain network that issues and trade the right of development and sales of real estate development projects with NFTs. It is known as a new concept of real estate development finance (Project Financing, a financial technique that raises funds using the business feasibility of real estate development projects and future cash flows as collateral).

Originally, the real estate development project took a long time which was difficult for both investors and developers to cash quickly if they issued insufficient capital as stocks as previously operated. However, issuing it as a non-fungible token (NFT), not a stock, can expect an easier and faster circulation of funds. The visible monetization timing of investors and developers can be shortened when issuing and selling insufficient capital as NFT, and listing the issued NFT on the exchange at the same time as starting a business.

The FOGNET platform ecosystem forms a token economy that is organically linked through the FOGNET Token (FOG), a key currency and basic payment means necessary for various activities within the ecosystem, and the Empire NFT for exercising the rights of users in the ecosystem, and real estate developer NFT.

Korea's Fognet Inc. developed the FOGNET platform to enter the real estate NFT payment market by introducing FOG Coin.

The FOGNET Token (FOG) is based on the standard token specification ERC-20 standard set by the Ethereum blockchain network in consideration of the stability and scalability of transactions, while the Empire NFT, a major asset contributing to the token economy, is based on the standard token specification ERC-721 or ERC-1155 standard set by the Ethereum blockchain network. Users are qualified to participate as members of FOGNET DAO, an autonomous decision-making organization in the FOGNET Platform ecosystem, and exercise their right to profit dividends and decision-making by possessing the Empire NFT.

FOGNET is a project for building a blockchain-based platform that uses NFT and utility tokens to create an ecosystem that can participate in real estate development and sale, and to form a token economy through it. It aims to create a healthy NFT trading ecosystem based on real assets by discovering real estate NFT that can be commercialized in the future, and plans to expand its services and business areas through the advancement and stabilization of the FOGNET platform.