SM Leisure founder Lee Soo-man talks the Metaverse and his ‘future imaginative and prescient of Okay-pop’


Lee Soo-man, founder and foremost producer of Okay-pop big SM Leisure, spoke at Stanford College on Friday (Might 20) at a convention commemorating the twentieth anniversary of Stanford College’s Korea Program.

The forged of SM Leisure contains Espa in addition to NCT, Purple Velvet, Tremendous Junior and EXO, whose member Suho additionally spoke on the occasion.

Different attendees on the convention included former UN Secretary-Common Ban Ki-moon, former UN ambassador Kim Sook and former EU ambassador Park Joon-woo.

Lee’s speech targeted on “Okay-pop’s imaginative and prescient of the long run”, breaking down the ideas of the “Play2Create (P2C)” ecosystem, through which he encourages followers, or ‘prosumers’, to create content material utilizing SM. We do. -Associated Mental Property (IP) to generate income.

He says that, inside this blockchain-based ecosystem, which he says is a part of the “new” creator economic system, “anybody can take pleasure in authentic content material IP and create new ones.” [content] once more via leisure, and generate income”.

Added SM’s founder: “Authentic content material shall be turned again into entertainable content material [sic] That prosumers can innovate, and would be the basis for a lot of future artists, creators and prosumers who try to realize their goals of innovation and creation.”

He additionally elaborated in regards to the ‘SM Tradition Universe’ (SMCU).

SMCU is a character led universe which resembles the cinematic universes created by comedian giants Marvel or DC

Again in June 2021, SM Leisure CEO Sung Su Lee Defined that it “may be considered SM’s metaverse, inviting Okay-pop followers all over the world to understand our music and tales via quite a lot of platforms”.

Elsewhere within the speech, Lee described his roots as a “first mover” within the Okay-pop area, and the way the music expanded globally. He additionally shared his predictions for the style and Korean in style tradition, because it continues to develop in recognition all over the world. He refers back to the globalization of Okay-pop as “Haliyu”.

SM’s founder informed viewers that, “from the start, the aim of Okay-pop was globalization” and that he based SM Leisure in 1989, “with the idea that the previous historical past of ‘Economic system First, Tradition Follows’ as a substitute Can change into ‘tradition first, economic system subsequent’.

He defined that he then developed what he known as “systematic”. [production] and Administration System” for SM Leisure artists.

“If you happen to dream alone, it is only a dream, but when we dream the identical dream collectively, it is the start of a brand new future. That is how we began increasing abroad.”

Lee said that he then “found and produced world stars from people with potential and created materials known as SM Pop, which is understood right this moment as Okay-Pop, and in 1997 informed our SM workers that, ‘Now ‘We’re going overseas’.”

Lee added: “If you happen to dream alone, it is only a dream, but when we dream the identical dream collectively, it is the start of a brand new future. That is how we started to broaden abroad.

“Within the means of increasing the spectrum of actions and areas in america from Asia to Europe, I targeted on making Halli not solely a easy type of export, however an ongoing, world motion that might accumulate nationwide wealth. . I labored to be the primary mover.”

MBW listened to his full speech. Right here are some things that stood out…


Lee Soo-man says that “tradition expertise” – a time period he coined – is the “development engine” of Okay-pop…

Lee Soo-man elaborates on what he calls SM’s “organised” [production] and administration system”.

He says he coined the time period ‘whistling’ to explain the system. It stands for ‘tradition expertise’ and he says it permits his group to “proceed in an orderly method”.

Lee additional explains that he “determined to formulate your complete means of tradition manufacturing as expertise and codify it manually, whereas repeatedly recording its growth course of with the information and abilities concerned”.

“SMS [production method] has change into a mannequin for the creation of Okay-pop.”

Lee stated he organized the system into 4 phases of casting, coaching, content material manufacturing and advertising and marketing. “With this, I developed my very own [production method] Tradition is known as expertise, which streamlined the administration system,” he stated.

He additional defined that this so-called ‘Whistle’ system is the “development engine of Okay-pop” and “the elemental working system of SM Leisure”. Via the method he developed, he claims that “Okay-pop has change into a multidisciplinary type of artwork materials that’s world”.

Lee added: “Now, not solely Korea’s artist and materials, however its [production] The system can be getting a excessive stage of consideration globally.

“SMS [production method] turned a mannequin for Okay-pop manufacturing, and would broaden to change into SM’s Whistle [the] ct of the world Tradition is the elemental imaginative and prescient of the way forward for expertise [of] Leisure. And now, I’m creating a brand new cultural ecosystem by growing CTs from a culture-forming expertise to a cultural ecosystem-forming expertise.


SM’s founder says that, “by combining blockchain and metaverse expertise,” the corporate’s content material will “transcend time and house”…

In October, She wrote how about SM Tradition Universe (SMCU)One character led universe Much like the cinematic multiverse created by comedian giants Marvel or DC, SM’s content material is central to the technique.

In his speech final week, Lee additional commented on his imaginative and prescient for SMCU. He defined that inside SM’s Tradition Universe, “all of the ‘worldviews’ of SM artists would mix”.

He added that this “worldview, imaginative and prescient and blueprint” is one which SM has been getting ready for a very long time, “with the hope that Okay-pop and Halleyau won’t solely be the craze of a technology, however content material that’s liked all through the ages”.

“By combining blockchain and Metaverse expertise, SM’s content material will broaden into content material for all, and can transcend time and house to convey to life this futuristic leisure age that may join via tradition.”

Lee claimed to have coined one other time period, ‘metaversal origin story’ and was “creating authentic tales and worldviews. [SM’s] artist for fairly a while”.

Lee added: “All worldviews from our SM forged will come collectively in a single huge digital worldview known as the ‘Metaversal Origin Story’.

“By combining blockchain and Metaverse expertise, SM’s content material will broaden into content material for all, and can transcend time and house to convey to life this futuristic leisure age that may join via tradition.”


He believes the so-called ‘Play2Earn’ and ‘Play2Create’ enterprise fashions shall be a part of a brand new creator economic system, the place followers can generate income utilizing IPs supplied by SMs.

Lee talked in regards to the “Play2Create period” and “Play2Earn” fashions. The founders of SM need followers to be impressed by SM content material to create their very own content material, and generate income within the course of.

He stated throughout his speech that “we live in a metaverse the place prosecutors can voluntarily recreate and unfold materials” and argued that, “via leisure [content] by these prosecutors, who take part as producers and make [the] The unique content material will increase”.

“The way in which tradition started and developed as we moved from an agrarian society to a extra steady economic system, sporting actions would quickly change into inventive actions in a P2C period.”

In February, SM Model Advertising (SMBM), a subsidiary of SM Leisure, signed a memorandum of understanding To type what they name a “complete partnership” with cryptocurrency alternate Binance to ascertain a world Play2Create (P2C) ecosystem.

The partnership will start within the NFT area, permitting followers to “recreate content material and merchandise within the type of sports activities, music, dance and equipment” utilizing “instruments and IPs supplied throughout the e-commerce and Metaverse platforms”. Will get

SM reported in February that it will permit “customers to make a revenue in addition to get recognition for them”. [own] originality”.

In his speech at Stanford, Lee stated: “The Play2Earn mannequin – enjoying video games and earning money – is extra widespread in blockchain, a mannequin that’s solely the early phases of the net and metaverse”.

He continued: “Simply as tradition started and developed as we moved from an agrarian society to a extra steady economic system, sporting actions would quickly change into inventive actions in a P2C period.”worldwide music enterprise



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