NFT Games’ Animoca Brands continues to disrupt the mainstream entertainment industry by partnering with Korean record label, talent agency and music production company Cube Entertainment to create a “K-pop music metropolis”.
In a partnership announced Nov. 15, Animoca and Cube will work together to create multimedia NFTs celebrating popular performers and K-pop musicians on Cube’s roster. These NFTs will feature images such as artist portraits and album art, and will also include digital soundtracks, such as full albums.
Yat Siu, CEO of Animoca Brands, said he can’t wait to start working with Cube to “make the open meta-universe a reality. “Animoca describes the partnership as being able to bring “real digital property rights and other blockchain benefits” to artists on the Cube roster and their fans.
Ahn Woo Hyung, CEO of Cube, said the partnership would be “a great start to leading the global digital culture market and advancing the digital content industry”.
Cube manages about 50 K-pop artists, including BtoB, Pentagon, (G)I-DLE and Lightsum.
Siu has long emphasized the disruptive forms of ownership that NFTs bring, having previously compared the impact of unforgeable tokens on the advancement of property rights to the Renaissance of early modern Europe in July 2020.
Animoca has been closely associated with many of the key milestones in the development of NFTs, investing in the company in 2017 after witnessing from a neighboring office as Dapper Labs brought the ethereum network to its knees with the rampant success of CryptoKitties.
In 2020, Animoca struck a global licensing deal with Formula 1 to launch its F1 Delta Time game, before selling $3 million worth of virtual land NFTs for its metaverse subsidiary The Sandbox in an initial exchange offering hosted by Binance at the end of the year.
In early November 2021, The Sandbox raised another $93 million to expand its NFT meta-state.