Readict Invested by CooTek Launched Its First NFT to Double Down on Read-to-Earn

SHANGHAI, May 10, 2022 /PRNewswire/ -- Readict, an online reading app developed by a studio invested by CooTek (Cayman) Inc. (NYSE: CTK) ("CooTek" or the "Company"), has launched its first NFT line and a NFT Mall. A limited number of cryptos are now available for Readict readers to purchase. For CooTek, a pan-entertainment ecosystem builder, this represents a crucial first attempt at building a content metaverse and driving crypto innovations.

Developed for the global market, Readict has attracted a large number of readers from around the world. Relying on its diverse content ecosystem and deep insights into readers' tastes, Readict has seen its influence on the rise. By releasing a self-branded NFT, Readict has officially connected the online reading community with metaverse. This will allow the readers to better interact with the authors while enjoying a more immersive reading experience.

Readers can access the novel-themed NFT through the in-app purchase portal. They can also view and purchase other NFTs related to their favorite novels in the NFT Mall.

The first NFT is inspired by the look of the heroine of one of the biggest hits on Readict, The Billionarie's Baby. The novel is now available in paperback on Amazon. 

By releasing NFTs for the novels, as well as their characters, props, and plots, Readict has greatly increased revenue for the authors while creating a more immersive experience for the readers. By purchasing the limited collection of Readict NFTs, readers are also able to invest in crypto assets with growth potential.

For CooTek, one of the key objectives to build a content metaverse is to facilitate the interoperability among different content types with NFT. The newly launched NFT is the only the start of a metaverse project that integrates novels and games. Users who immerse themselves in the fictional world will further extend and adopt their beloved avatars, characters and props, through the NFTs, to the games. For example, by purchasing novel themed NFTs, users will access certain avatars and props in the games, or simply trade the NFTs with others.

In the future, CooTek will continue to explore more metaverse scenarios through Readict. As the creator of the innovative content ecosystem, the Company will introduce more crypto and metaverse features, such as Read-to-Earn and Write-to-Earn into online literature, while promoting a new model of content creation supported by both the creators and the consumers.

About CooTek (Cayman) Inc.

CooTek is a mobile internet company with a global vision that offers content-rich mobile applications, focusing on three categories: online literature, scenario-based content apps and mobile games. CooTek's mission is to empower everyone to enjoy relevant content seamlessly. CooTek's user-centric and data-driven approach has enabled it to release appealing products to capture mobile internet users' ever-evolving content needs and helps it rapidly attract targeted users.

For more information on CooTek, please visit https://ir.cootek.com.

For further information, please contact:

CooTek (Cayman) Inc.
Mr. Jacky Lin
Email: [email protected]  

ICA Investor Relations (Asia) Limited
Mr. Kevin Yang
Phone: +86-21-8028-6033
Email: [email protected]  

SOURCE CooTek (Cayman) Inc.