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Although the board of directors requested that the fundraising be halted, Jung refused to comply and, on June 3, posted the project proposal, a developer recruitment notice, and fundraising information on Facebook and in the group chat."
Fundraising Plan to Create Open Internet Portal
Translated English Version Fundraising Plan to Create Open Internet Portal
In South Korea, establishing an internet portal is difficult, so we aim to create a global metaverse-based portal—surpassing platforms like Naver, Daum, and Google—for the 10 million overseas Koreans.
This portal, based on K-culture, will include various sections such as news, games, entertainment, and sports. Citizens can actively design and build their own portals. As their portals gain followers, they will appear more prominently and generate revenue, much like YouTube. The rewards will be distributed through a blockchain-based cryptocurrency, which is expected to increase in value within the portal ecosystem.
The creation of the citizen portal, "Open Portal," will proceed in three phases:
1.
Phase 1: Raise $1 million to establish a U.S.-based legal entity, hire professional staff, and build demo tools for corporate project proposals.
2.
Phase 2: Use the initial cloud-funding capital to produce demo tools and pitch them to companies around the world. Companies that sign advertising contracts will receive fixed advertising benefits (in specific positions) for a designated period. These benefits include targeted advertisements for their products at a low cost with high efficiency. The target amount for these priority advertising contracts is $5 million.
3.
Phase 3: Conduct a large-scale national fundraising campaign in South Korea using the secured capital. The target is approximately $50 million.
4.
Citizens who contribute to the fund will be listed by contribution tier and recognized in the "Hall of Fame" (e.g., Bronze, Silver, Gold, Platinum), permanently if they desire.
5.
If the portal becomes a self-sustaining ad revenue platform and annual profits exceed 200%, funders will be compensated in cryptocurrency proportionate to their contributions. This cryptocurrency can be used within the portal for various services (e.g., virtual legal advisors, real estate data, travel), and eventually exchanged on public exchanges and converted to U.S. dollars.
6.
Most importantly, this portal will be built with cutting-edge technology based on a metaverse, ensuring that news from around the world is ranked by factual accuracy. AI will ensure that fake or misleading news is filtered out, allowing only truthful media outlets to thrive through algorithmic prioritization.
7.
This revolutionary news-portal structure will give investigative journalism outlets priority over corporate media, and allow citizen journalists to have their reports featured alongside major outlets.
8.
Rather than merely donating, citizens who participate in the fundraising will become co-owners. The portal will be managed by a company, but key decisions will be governed by a collective intelligence AI system.
9.
The portal will be modeled on values like conscience, sharing, and truth—not on capitalist logic. It will be driven by human-centered AI, not profit.
10.
Citizens who invest in the "Open" portal will gain honor and ownership in a truly participatory, collectively-governed project—experiencing a gateway to real truth, unlike anything the world has seen.
supporting evidence
5/15/2022 1:52am (ET)
5/14/2022 10:52am (PT)
"Welcome to the Yeollin USA crowdfunding group chat.
Please read the pinned announcement at the top and consider making a donation."