High 5 Ok-Pop Leisure Firms Coming into NFTs


SINGAPORE, April 14, 2022 (Globe Newswire) — Felz, a complete Web3 NFT resolution supplier for Leisure 3.0 and a constant companion in finishing fan-focused NFT tasks, is monitoring a rising variety of profitable NFT use-cases. Is. Korea’s presence within the international cultural market has been rising over the previous decade. In 2013, Psy’s “Gangnam Fashion” was a phenomenon that got here and went. Nonetheless, with BTS gaining worldwide acclaim, Ok-pop has change into a worldwide development right here to remain. “Parasite” and “Squid Video games” carried Halli’s (Korean Wave) affect even additional.

The foremost leisure firms have a specific space of ​​curiosity that’s main the market: NFTs. NFTs are a know-how that has been gaining a variety of consideration recently as a result of its potential as a brand new driver for maximizing income.

Listed below are the highest 5 main leisure firms in Korea exploring the combination of NFTs into their enterprise:

1. HYBE

Well-known for the worldwide phenomenon BTS, HYBE went public in 2020 and is at the moment the biggest leisure firm in Korea regardless of a comparatively quick historical past. It’s not information that HYBE is in search of a brand new progress engine apart from BTS.

To this finish, HYBE just lately introduced a partnership with Dunmu, the operator of Upbit, the main cryptocurrency trade in Korea. In November final yr, HYBE invested USD 400 million in Dunamu for a 2.48% stake, with Dunamu investing USD 570 million in HYBE for a 5.57% stake within the firm’s shares. The contract that was introduced in February this yr was for the 2 firms to arrange a three way partnership utilizing HYBE’s IP. Together with revealing the specs, HYBE just lately utilized for a trademark patent known as “Digital Memento” and introduced plans to open an NFT trade within the US this yr.

2. YG Leisure

YG Leisure is a number one leisure firm and music label that shares its rank with HYBE, SM and JYP, and is famend for its iconic lineup of Ok-pop artists corresponding to Large Bang, Black Pink and Champ.

And companion YG Leisure determined to enter the blockchain enterprise with Binance, a worldwide cryptocurrency trade. In February this yr, YG Leisure introduced its strategic partnership with Binance. The deal contains YG Leisure which offers its IP and Binance which offers the know-how to mint and handle YG’s IP-based NFTs.

Each firms introduced that they may also enterprise into making a metaverse sport on Binance Sensible Chain, a proprietary blockchain community based and operated by Binance, to create a brand new expertise and thereby, create worth for his or her followers utilizing blockchain know-how. will do.

3. SM Leisure

SM Leisure is a reputed leisure firm in Korea, pioneering in establishing the primary systematic idol incubation course of and ecosystem, paving the best way for Ok-pop to blossom into a worldwide phenomenon. SM Leisure’s abroad market entry started in 1997, and it was additionally SM Leisure that held the primary large-scale Ok-pop live performance in Europe in 2011.

SM Leisure’s pursuit of the NFT area is primarily pushed by its founder and normal producer Su-Man Lee actively taking the mandatory steps to maneuver ahead within the NFT enterprise. It’s value noting that Lee attended the “Binance Blockchain Week” organized by Binance on March 28-30 in Dubai, taking part as a keynote speaker on the occasion.

He was additionally invited to the inaugural session of the International Crypto Discussion board on the World Authorities Summit 2022 and engaged in a heated dialogue on defining the that means of NFTs, blockchain and the metaverse within the leisure business. Their involvement displays the music business’s rising curiosity in blockchain know-how as a viable element for enterprise growth.

SM Leisure’s profitable debut of Espa, a lady group influenced by Avatar, is a crucial indicator of the place the mainstream music and leisure enterprise is headed.

4. Creativeness

Fantagio is one more mainstream-culture powerhouse that’s actively expressing its curiosity in getting into the sphere of NFTs. As a complete leisure firm listed on KOSDAQ, the subsequent era of Ok-pop teams corresponding to Astro and Weiky Meki with numerous Korean actors as its solid, Fantagio has prolonged its involvement in content material creation with notable collaborations with Studio Dragon. is increasing. , Korea’s largest drama manufacturing firm, to supply the drama “Blind”.

Fantagio just lately introduced plans to collaborate with Fellaz, a complete Web3 NFT resolution supplier for Leisure 3.0, to execute a fan-focused NFT mission. Fantagio will launch its first NFT assortment with Fellaz within the close to future, and can present how mainstream music, fantasy and NFT might be introduced collectively to create new worth for each artists and followers.

5. Abyss Firm

The Abyss Firm is a privately held leisure firm, comparatively small in measurement in comparison with the above firms. At the moment, Sandara Park from 2NE1 and Tsunami from Surprise Women are a part of the Abyss firm.

Abyss Firm’s NFT-related companies have attracted a variety of consideration as they’ve proven outstanding outcomes with their NFT collections based mostly on artists’ IPs. In November final yr, Abyss Firm signed a memorandum of understanding with blockchain-specific advertising and marketing agency FSN. In February this yr, each firms launched the “Sunmiya Membership” PFP as their first NFT assortment utilizing Sunmi’s IP from Surprise Women. Your complete assortment bought out in OpenSE inside a second of launch, reaching a 24-hour buying and selling quantity of 4.66 million Klays (USD 5.74 million).

The efficiency of Abyss Firm’s NFT enterprise has been known as a profitable use-case of Ok-Pop IP and NFT know-how and is seen as the primary of many extra to return. Whereas we now have but to see how this market will unfold, with the vast spectrum of NFT use circumstances which can be at the moment being developed and provided to market, the combination of Web3 into the leisure business is a development that’s right here to remain. is for.

Press Contact
Simon Hano
simon@felaz.io

This materials was launched by the press launch distribution service at Newswire.com.



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