Animoca Brands Corporation Ltd has again taken great strides in the non-fungible token (NFT) sector, bringing K-Pop producer Cube Entertainment into a joint venture agreement to build a music metaverse.
The joint venture will also produce NFTs and ecosystem tokens based on the intellectual property rights of Cube Entertainment’s globally popular K-pop music artists and actors.
NFTs will be issued using joint resources including digital sound sources, albums, portraits and avatars of globally popular K-pop artists under the management of Cube Ent.
Animoca Brands believes this will enable true digital property rights and other blockchain benefits for artists and their fans.
“K-Pop taking the world by storm”
Animoca Brands co-founder and executive chairman, Yat Siu commented: “K-pop is taking the world by storm and here at Animoca Brands we can’t wait to work with Cube Ent and its roster of K-pop artists as we continue our efforts to make the open metaverse a reality.”
Cube Entertainment has 50 talents under management, including K-pop artists Jo Kwon, BTOB, PENTAGON, CLC, (G)I-DLE, LIGHTSUM, entertainers Park Mi Sun, Lee Hwee Jae, Lee Sang Jun, Kim Kyung Ah, Heo Kyeong Hwan and Lee Eun Ji.
The company also has actors Park Sun Young, Kim Jin Woo, Na In Woo, Moon Su In, Seoung You and Yoo Seonho, and entertainers Kong Seo Yeong and Jung Ji Woo.
Cube Entertainment CEO Ahn Woo Hyung said: “We are excited to collaborate with Animoca Brands to create NFTs and an associated ecosystem featuring Cube Ent’s IPs of music, images, and more. We anticipate this will be an important beginning for leading the global digital culture market and advancing the digital content industry."
Non-fungible Tokens
NFTs are digital assets and collectibles that possess many characteristics normally associated with physical items, including authenticity, rarity, scarcity, ownership, provenance, and other properties that are independently guaranteed, verified, and secured on blockchain.
Unlike most digital content, which is temporarily provided to users on a licensing basis, NFTs are truly ownable - just like physical collectibles. These characteristics of NFTs allow them to attain significant value as digital collectibles.
About the companies
Cube Entertainment finds rookies with potential, trains them with a professional system, develops them into outstanding artists with excellent skills and attitudes to produce quality content for the global market.
Experts from various parts of the industry utilise their analytic skills and efficient system to bring artists to the pinnacle of the K-pop industry.
Animoca Brands, is a leader in digital entertainment, blockchain, and gamification that is driving digital property rights via NFTs and gaming to help build the open metaverse.
Animoca Brands develops and publishes a broad portfolio of products including the REVV token and SAND token, original games, and products utilizing popular intellectual properties including Formula 1®, Marvel, WWE, Power Rangers, MotoGP™ and Doraemon.
Its portfolio of blockchain investments includes more than 100 of the most promising NFT-related companies and projects.