Animoca Brands Corporation Ltd and Cube Entertainment have fully established their new joint venture, named AniCube Entertainment.
AniCube is set to create a music metaverse and issue NFTs and ecosystem tokens based on the intellectual property rights of Cube Entertainment’s globally popular K-pop (Korean pop) music artists and actors.
AniCube will also bring Cube Entertainment artists to The Sandbox.
If you haven’t yet heard of The Sandbox, it is a leading decentralised gaming virtual world and a subsidiary of Animoca Brands.
K-Pop creators in the metaverse
K-Pop is one of the biggest cultural phenomena in the world.
A report by Statista from November 2021 showed the South Korean music industry achieved an all-time high sales revenue of more than 6.8 trillion South Korean won in 2019, as well as an export value of more than US$756 million. The export value has been increasing steadily ever since 2009 when K-pop began to become a global phenomenon.
Now, it can also grow in the metaverse.
“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 and help them to enjoy true digital property rights and the other benefits of blockchain and NFTs,” co-founder and executive chairman of Animoca Brands Yat Siu said.
Cube Entertainment CEO Woohyung Ahn commented: "With the support of Animoca Brands, the music metaverse created by AniCube will be global and open, and will play a leading role in the global music industry to protect the rights of IP holders and content creators related to music sources. We look forward to the ways in which Cube Ent's highly talented artists will help to build the open metaverse."
About Cube Entertainment
Cube Entertainment finds rookies with potential, trains them with a professional system, develops them into 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.
As a leader of the industry, Cube has produced the best artists since its establishment in 2006, including: 4MINUTE, BEAST, G.NA, BTOB, PENTAGON, CLC, (G)I-DLE and LIGHTSUM, and recruited entertainers such as Park Mi Sun, Lee Hwee Jae, Lee Sang Jun, Kim Kyung Ah, Heo Kyeong Hwan, Lee Eun Ji, actors Park Sun Young, Kim Jin Woo, Na In Woo, Moon Su In, Seoung You, Yoo Seonho and entertainers Kong Seo Yeong and Jung Ji Woo, making achievements in the global market not only for music but for various K-content.
In 2022, Cube aims to provide more intimate experiences to fans through promotions in the United States, Europe, Asia and all around the world.