K-pop fans may soon have more official products to spend their money on, as South Korea’s entertainment industry plans to embrace NFTs and the metaverse.
One of the newest K-pop talent agencies pledging to join NFT and the metaverse race is Cube Entertainment, which manages popular artists and groups like Jo Kwon, BTOB, PENTAGON, CLC, and (G)I-DLE. In November, the Kosdaq-listed company teamed up with Animoca Brands to create a joint venture dedicated to building a music metaverse and releasing NFTs.
Cube CEO Ahn Woo-Hyung, Forkast. In an interview with News, he said there are no limits when it comes to investing in new technology:
Ahn added that the company has since last year formed a dedicated team to study NFTs and then the metaverse and continues to work hard on that. Ahn said he couldn’t share too many details about upcoming projects:
Indeed, Cube isn’t the only talent agency that sees NFTs and the metaverse as important. In July, top K-pop entertainment agency JYP, which manages popular idol groups including TWICE and 2PM, partnered with Dunamu to create an NFT platform using JYP’s content.
HYBE, the agency behind the global phenomenon group BTS, is also actively investing in this field.