The funding project for the relaunch of IZ*ONE has come to an end.
On July 29 KST, the fan-led funding project, Parallel Universe Project, gave an update regarding the proposal to relaunch IZ*ONE, as well as their future plans.
Keep on reading to know more.
Parallel Universe Ends of IZ*ONE's Funding Project to Respect Members and Agencies' Wishes
After the explosive interest in the funding project which began earlier this year in April, the Parallel Universe Project Committee - the people and fans behind the funding project - promoted the relaunching of IZ*ONE by proposing plans through various angles and conducting detailed discussions with each member's respective agencies to extend IZ*ONE's promotion period.
READ ALSO: Is IZ*ONE Making a Comeback? Multiple Agencies of Members Agree to Relaunch the Girl Group
After more than three months, the Parallel Universe Project Committee has announced the end of the funding project as of July 29, in respect of the IZ*ONE members' and their respective agencies' wishes of not wanting to relaunch.
However, the Parallel Universe Project Committee did indicate that there is a possibility that promotions in the form of IZ*ONE units or other projects could be reviewed in the future.
Despite the funding project coming to an end, the Parallel Universe Project Committee will continue to expand their ties and connections with the IZ*ONE members' respective agencies that they have built during the project.
In addition, they will work together so that the members may collaborate on future projects in the future.
Details or any updates will continuously be shared on Parallel Universe Project's official Twitter account.
Meanwhile, the project has a great significance in maximizing the unique function of crowdfunding. This is a case in which proves that crowdfunding can be expanded to different areas, such as culture, art, and performance beyond a means of financing or publicity for developing products.
With the Parallel Universe Project gathering more than 20,000 supporters and accumulating more than three billion won in funding, it has proven the value of crowdfunding as a growth market for creators and culture.
More Details About IZ*ONE's Fan-Led Relaunch Project
The Parallel Universe Project had collected over two billion won in just one day since its launch on Wadiz, a crowdfunding platform, back on April 21. This is the highest amount collected ever for a single project among all domestic funding platforms.
From April up to the present, there are nearly one million mentions recorded across social media platforms and communities related to IZ*ONE's contents.
An representative of the Parallel Universe Project Committee said, "I think we have received an opportunity to be able to communicate in a new and unusual as one voice in the K-Pop industry and fandom culture. I hope that it [the project] will give others strength and courage to take on challenges."
An official from the Wadiz platform had praised the Parallel Universe Project for showing the value of crowdfunding, as well as reflecting the characteristics of the MZ generation who fund their values and beliefs. In addition, they will continue to support the funding project to create good examples of using the power of crowdfunding.
Meanwhile, the amount raised through the Parallel Universe Project will automatically be canceled from July 30 KST without having to undergo a cancellation process.
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Written by Robyn Joan