K-pop NFT metaverse is Animoca Brands’s new plan
Animoca Brands has partnered with Cube Entertainment, a Korean musical company, to create a "K-pop metaverse."
Nonfungible tokens (NFT) are no longer strange to crypto fans and they continue to reshape the established entertainment businesses. Now Animoca Brands is teaming up with Cube Entertainment, a South Korean record label, talent agency, and music production company, to create a "K-pop music metaverse."
Considering the fact that Cube Entertainment is a record label, talent agency, and music production company, you may guess the type of NFTs to be created. In this partnership, multimedia NFTs will be created honoring prominent actors and K-pop singers on Cube's roster. The NFTs will contain photographs of artists and album covers, as well as digital sound sources like a full-length album.
Animoca Brands seems to be extremely excited about this partnership as the co-founder of Animoca Brands, Yat Siu expressed his zeal for this partnership with Cube to “make the open metaverse a reality.” The cooperation, according to Animoca, would enable "true digital property rights and other blockchain benefits" both for Cube's roster artists and their followers.
Cube CEO Ahn Woo-Hyung said that the partnership would be “an important beginning for leading the global digital culture market and advancing the digital content industry.” BtoB, Pentagon, (G)I-DLE, and Lightsum are just some of the artists Cube represents. NFTs, according to Siu, allow for a new type of ownership that was previously unimaginable, one that he likened to the Renaissance in early modern Europe during July 2020.
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