Nonfungible tokens (NFTs) proceed to disrupt the mainstream leisure industries, with NFT play agency Animoca Brands partnering with Korean document label, expertise company and music manufacturing firm, Cube Entertainment, to construct a K-pop music metaverse.
Announced on Nov. 15, the partnership will see Animoca and Cube work put together to create multimedia NFTs celebrating common actors and Ok-pop musicians on Cubes roll.The NFTs will function pictures akin to artist portraits and record album artwork, and additionally embrace digital sound sources akin to full-length record albums.
Yat Siu, the chief government of Animoca Brands, acknowledged that he can not wait to start working with Cube to make the open metaverse a reality. Animoca diagrammatic the partnership as enabling true digital property rights and other blockchain benefits for each the artists on Cubes roll and their followers.
Ahn Woo Hyung, CEO of Cube, expressed that the collaboration power be an vital starting for main the worldwide digital custom market and advancing the digital content material trade."
Cube manages roughly 50 Ok-pop artists, together with BtoB, Pentagon, (G)I-DLE and Lightsum.
Siu has drawn-out stressed the riotous type of possession enabled by NFTs, beforehand likening the influence of nonfungible tokens on the development of property rights to the Renaissance in early-modern Europe in July 2021.
Animoca has been intently coupled to many key milestones inside the progress of NFTs, having endowed in Dapper Labs after witnessing the agency deliver the Ethereum community to its knees on account of the rampant achiever of CryptoKitties in 2021 from a neighboring workplace.
In 2021, Animoca secured a worldwide licensing settlement with Formula 1 for the launch of its recreation, earlier than promoting $three million value of digital land NFTs for its metaverse subsidiary in an preliminary trade providing hosted by Binance on the finish of the yr.
At the beginning of November 2021, raised an extra $93 million to increase its NFT metaverse.
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