WATCHA is a South Korean movie streaming provider like Netflix. It claims to have 4.5 million subscribers, nearly 10 percent of the South Korean population. It is experimenting with its cryptocurrency token.
WATCHA announced Thursday that it is listing its cryptocurrency, called content protocol token (CPT), on the Upbit exchange. WATCHA users would receive CPTs according to the points they get by watching movies through its streaming service. They would get the coins also according to the comments they post and the ratings they grade on the WATCHA site.
Subscribers could use the CPTs in paying fees for watching movies and buy gifts on the WATCHA CPT Store, which will open in March.
They could also sell the CPTs and buy other cryptocurrencies or convert them into cash through the Upbit exchange.
An Upbit spokesman said WATCHA is expected to help people learn the mechanism of cryptocurrencies in their daily lives.
