SDC readies sports NFT, collectibles
SET-listed tech and ICT solution provider Samart Corporation, via subsidiary Samart Digital Company (SDC), plans to launch its first non-fungible tokens (NFT) linked with sports by the final quarter and then expand to collectible tokens to explore new opportunities in digital assets.
The company also aims to kick off its one-stop astrology service application in July under new startup LUCKY Heng Heng, which will provide services ranging from live fortune-telling, physiognomy and feng shui to determining auspicious dates and times.
The latest plans are meant to drive SDC to attain profitability next year following five years of losses.
Watchai Vilailuck, executive vice-chairman of Samart, said the company’s NFT first series will concern sports moments in both pictures and video clips, and they are set to be launched in the last quarter.
The firm is also now in the process of developing world-class collectible NFTs, he said, adding the move is more complicated as it needs to draw many parties to join the project.
Despite economic and pandemic challenges, the company is looking for new opportunities to strengthen its group’s foundation, he said.
“Samart is operating under the 2022 strategy of ‘Alert-Adapt-Achieve’,” said Mr Watchai.
The astrology app will gradually replace the firm’s horoscope phone service via 1900, which has been operating for two decades. The phone service generates around one million baht a month.
“Around 52 million people, or 79% of the population believe in horoscopes, astrology and feng shui so this service has strong potential,” he said.
Apart from the horoscope service app, LUCKY Heng Heng will soon launch a new app, called Thai Merit, which allows people to make merit online, including paying respects to Buddha images, making donations, redeeming vows and dealing with fortune sticks as well as worshipping sacred objects from many temples and holy places.
According to Mr Watchai, 90% of SDC’s revenue is now from the Digital Trunked Radio System (DTRS), which involves a ground-ground radio communication for coordinating among users.
The two key DTRS users are the Interior Ministry and the Provincial Electricity Authority, which capitalise on 85,000 DTRS devices, he said.
The number of devices used is expected to surge to 115,000 by the end of this year.
“We are finding ways to lessen its financial burden while increasing investment flexibility,” he said.
The company issued debentures early this year and is now studying the process to set up an infrastructure fund to raise money for the DTRS project, he said. No timeline has been set for the launch of the fund.
Samart currently has a backlog of 22 billion baht worth of projects. It is now pursuing the bidding of projects worth more than 12 billion baht in total by 2022, Mr Watchai said.
The company aims to attain 14 billion baht in revenue this year, up 60% from 2021.