South Korean entertainment agency Fantagio announced a memorandum of understanding (MOU) with digital asset platform Crypto.com to pursue non-fungible token (NFT) projects.

KOSDAQ-listed Fantagio manages K-pop idol groups such as ASTRO and Weki Meki, as well as South Korean actors including Cha Eun-woo and Ong Seong-woo.

Fantagio’s announcement adds to a growing list of K-pop agencies partnering with digital asset companies for expanding businesses into the Web 3.0 space.

K-pop megagroup BTS’s agency HYBE is working with Dunamu, operator of Upbit exchange, to launch an NFT joint venture later this year.

Crypto.com operates a global digital asset exchange .

The digital asset platform has numerous partnerships with sports and entertainment properties, including the Aston Martin F1 Team, UFC, Snoop Dogg and Boy George.