CHERRY, thanks to the MZ generation, the cumulative charity exceeded 200 million won in 9 months

We dream of spreading a good influence sharing culture targeting the MZ generation.

Blockchain charity platform CHERRY, thanks to the MZ generation, accumulated donations exceeded 200 million won in 9 months of launchWe dream of spreading a good influence sharing culture targeting the MZ generation.

Blockchain charity platform CHERRY, thanks to the MZ generation, accumulated donations exceeded 200 million won in 9 months of launch

• Accumulated donations exceeded 100 million won within 6 months of launch, and rapidly grew, exceeding 200 million won within 3 months

• Established as a charity platform with a high usage rate for the MZ generation, raising expectations for improvement in domestic donation culture

Korea’s first blockchain-based charity platform ‘CHERRY Hope Sharing Platform (hereafter referred to as CHERRY)’ announced on the 31st that the cumulative donation amount exceeded KRW 200 million within 9 months of its launch.

This is remarkable in that it is showing the steepest growth among currently commercialized blockchain services, as it was achieved in about three months after exceeding the cumulative donation of 100 million won in six months after launching in June.

In particular, it is noteworthy that through an easy-to-use mobile app, it is dramatically solving the problem of the domestic donation culture, where the participation rate of young people is low. According to the 2019 national tax statistics, more than 80% of donors in Korea were in their 40s or older. On the other hand, among CHERRY users, the MZ generation (a collective term for millennials born in the early 1980s to early 2000s and generation Z born in the mid-1990s to early 2000s) accounts for 53%.

CHERRY's rapid growth based on the MZ generation was possible because of a development strategy that considered generational characteristics. We actively introduced simple payments such as Naver Pay and L.pay, which are preferred by young people, and added a donation verification shot sharing function in line with the latest trend of sharing our consumption with friends and sharing good influence through SNS.

Currently, CHERRY is actively conducting fundraising activities through a total of 70 public interest organizations and 350 campaigns.

Lee Sujeong, CEO of E4Net, which develops and operates CHERRY, said, “I am happy that CHERRY is growing into a platform that is in the limelight for the younger generation, who were considered relatively passive in participating in donations.” We will be reborn as a service that can provide the joy of donation to many young people.”

Meanwhile, CHERRY was awarded the 2019 Minister of Science and Technology Information and Communication Award in recognition of its contribution to the vitalization of the blockchain-fintech industry.