China’s BSN to get its first portal operator outside of the country

  • Korean company MetaverseSociety was recently revealed as the first international portal operator for BSN.
  • The company will launch its BSN portal at some point in November of this year.
  • The goal of BSN is to make the cost of app creation and running as close to zero as possible.

MetaverseSociety, also known as MarX Project, is a company based in Korea that aims to build a virtuous ecosystem by establishing connections between consumers and value generators on an NFT-powered DeFi platform. The company will also be the first BSN portal operator located outside of China, according to a recent announcement.

The announcement was posted earlier today, September 1st, on Twitter by BSN itself. The Blockchain Service Network revealed that Metaverse Society will launch its BSN portal in November of this year, which will allow local developers to build and operate dApps very quickly, and with high effectiveness.

MetaverseSociety is offering unique token standards meant for NFT issuers, as well as for digital assets. It also allows swaps between tokens created on its network thanks to a DEX that it launched.

BSN aims to bring cheap ways to create and run apps

As some may remember, China announced its plans to launch BSN in April 2020. BSN comes as a blockchain network, although not like the likes of Bitcoin, Ethereum, and other similar blockchains. While its functionality does remind of Ethereum’s network, BSN is actually centralized, and it was created as a joint initiative between four different companies — Red Date Technology, China Mobile, National Information Center, and China UnionPay.

The project soon split into two separate networks, however, becoming BSN China and BSN International. Red Date Technology, which announced MetaverseSociety’s new role, is actually responsible for the BSN International development.

The BSN’s co-founding firm also announced the completion of a $30 million Series A equity financial round, only a few months ago, in June 2021. The round was led by two firms, Kinetic and Prosperity7Ventures. However, there were plenty of other participants, including Thailand’s Bangkok Bank and the Swiss-based Bank Pictet.

Red Date Technology’s CEO, Yifan He, stated at the time that it was necessary for the cost of creating websites to drop to near zero in order for the internet to reach its golden age. One of BSN’s goals is to apply this same philosophy to the cost of developing and running apps. If it can be exceptionally low, while providing multi-frameworks, interoperability, and similar benefits — then it can hope to attract and serve a larger customer base.

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