Animoka Brands reveals plans for K-pop NFT metaverse – News Couple

Animoka Brands reveals plans for K-pop NFT metaverse

Non-fungible tokens (NFTs) continue to disrupt mainstream entertainment industries, with NFT gaming company Animoca Brands partnering with Korean record label, talent agency and music production company Cube Entertainment, to build a “K-pop music metaverse.”

Announced on November 15, the partnership will see Animoca and Cube work together to create multimedia NFTs that celebrate the famous actors and K-pop musicians of Cube’s roster. NFTs will display images such as artist photos and album art, and will also include digital audio sources such as full-length albums.

Yat Siu, CEO of Animoca Brands, said he can’t wait to start working with Cube to “make the open turn a reality.” Animoca described the partnership as allowing “true digital property rights and other blockchain benefits” to both Cube roster artists and their fans.

Ahn Woo Hyung, CEO of Cube, said the collaboration would be an “important start to lead the global digital culture market and advance the digital content industry.”

Cube runs nearly 50 K-pop artists, including BtoB, Pentagon, (G)I-DLE, and Lightsum.

Related: NFTs offer a new way for society to “store culture,” says CEO of Animoca Brands

Siu has always emphasized the subversive form of property enabled by NFTs, previously likening the impact of non-fungible tokens on the progression of property rights to the Renaissance in early modern Europe in July 2020.

Animoca has been closely associated with several major milestones in the growth of NFTs, having invested in Dapper Labs after witnessing the company to its knees as a result of the rampant success of CryptoKitties in 2017 from a nearby office.

In 2020, Animoca secured a global licensing agreement with Formula 1 for its launch Delta F1 Timings The game, before selling $3 million worth of Virtual Reality NFTs to its metaverse company sand In an initial exchange hosted by Binance at the end of the year.

At the beginning of November 2021, sand It raised another $93 million to expand the NFT metaverse.