• Animoca Brands x Cube Entertainment Announce AniCube Music Metaverse

  • Kpop meets tech. Animoca Brands is teaming up with Cube Entertainment to create the music metaverse AniCube. Thanks to this joint venture, NFTs based on the intellectual property rights of the South Korean Entertainment company’s globally popular K-pop music artists and actors will soon hit the market.

    About AniCube: Animoca Brands and Cube Entertainment’s Music Metaverse

    AniCube will bring Cube Ent’s artists to The Sandbox, a leading decentralized gaming virtual world and a subsidiary of Animoca Brands. The future NFT drops will include digital sound sources, albums, portraits and avatars of K-pop artists under the management’s wing. So this partnership will enable true digital property rights and other blockchain benefits for artists and their fans.

    Cube Ent has 50 talents under management, including Jo Kwon, BtoB, CLC, Pentagon, Yoo Seon-ho, (G)I-dle and Lightsum. It also manages several entertainers and actors, including Lee Hwi-Jae, Heo Kyung-hwan, Park Mi-sun, Na In-woo, Kim Jin-woo and Park Sun-young.

    Yat Siu, co-founder and executive chairman of Animoca Brands, is excited to see how NFTs will boost Kpop fan experiences. He said, “As a fan of K-pop and Korean culture, I am thrilled to contribute to AniCube, a JV that will guide K-pop music creators and fans in the open music metaverse. Then, help them to enjoy true digital property rights and the other benefits of blockchain and NFTs.”

    Meanwhile, Woohyung Ahn, CEO of Cube Entertainment, is confident that AniCube will play a leading role in the global music industry to protect the rights of IP holders and content creators related to music sources. He added, “We look forward to the ways in which Cube Ent’s highly talented artists will help to build the open metaverse.”

    Kpop Meets NFTs

    Cube Entertainment is not alone in recognizing the opportunities in the Metaverse. YG Entertainment is working with Binance to launch NFT-backed “trendy attempts” to interact with fans. YG Entertainment will provide content and assets, while Binance will develop the space and infrastructure for their future projects.

    The Kpop industry has been growing aggressively over the last couple of years. For example, the 5-year old Big Entertainment agency is worth around $4 billion according to Fortune.com.What’s even more impressive is that 90% of the revenue comes from just one group: BTS. K-Pop merchandise is the biggest contributor, with $9.48 billion in exports. Since NFTs make collecting easy and sexy, it is a perfect fit for the Kpop industry.

    It is exciting to see how the two-billion-dollar industries will further boost each other’s growth. In 2021, the NFT market had its “best year yet” with over $23 billion in trading volume, according to Dappradar. Most of the drops came from athletes, celebrities and artists based in the US. So this year, the Asian market will play a more active role in the space.

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