Official Launch of Global Pet Platform "XOOX" in Korea
Starting From The US and Expanding to Global Market with Dramatically Expansion Power, and Now officially Entering The Global Market.
SEOUL, South Korea, Jan. 4, 2024 A video of kids encouraging Oprah Winfrey to participate in the challenge at New York Times was unveiled on November 11, 2023. The global pet platform XOOX Lab that has led the '1 Penny Challenge' viral has accelerated its Korean and global market invasion by establishing a joint corporation with Korean partners in 2024.
This joint corporation is based on the establishment of a domestic corporation that expands to monopoly status with Korean partners since the domestic corporation of XOOX KR, expecting global market expansion beyond Korea. Domestic participants of XOOX KR include B2EN Co., Ltd. (307870), a KOSDAQ-listed company, which is in charge of business operation, AI operation, and data management and application, and Medi Cloud, which is in charge of the general R&D of the BIO industry.
XOOX recently launched diverse pet applications, initiating a $1,000,000 challenge globally. It can be participated through the app such as Pet Music, Video, Hugs & Kisses. It has been showing high participation centering on influencers.
Attention is fully focusing on the pet winner of $1,000,000.
The first pet ID (unique identification using hair direction and eyelid color) globally developed by XOOX KR that will hit Korea has been developed with the results of breed classification test using the US Stanford Dog data set, iris scanning test of pets using U-Net, and fur direction image-processing test (gabor filter). We consider hair direction around the eye area and the color of the eyelid as the unique characteristics of a pet. It has been determined that the model and system that extracts the unique value of a pet by using such characteristics, expecting a pet ID recognizing tablet PC by using such a feature.
Also, to briefly summarize the analyzing system of the urine test kit, it is a service that includes strip scanning: identifying a test kit within an image by using an algorithm that recognizes a test kit and identifying the location of the QR code and test sheet.
XOOX Korea is expected to initiate a global supply of urine test kits starting in 2024. Medi Cloud promotes management and development, B2NE for sales and algorithm development, and XOOX for global distribution and supply.
The domestic market of urine test kits is projected to be $3.3b, considering the population of pet-owning households of 7 million with 10,000KRW of test fee (estimated/year for 4 times) for a one-time test.
With high expectations of the launch of XOOX KOREA, Inc. in Korea, the attention on the future business has been rising with its explanation of providing diverse and differentiated services to users with the effect of improved health and life of pets. It has also added that the direction of the business is focused on contributing to public welfare and offering profit back to the community beyond profitable business.
XOOX app is currently holding a pet challenge with a prize of $1,000,000.