NFT gaming startup Animoca Brands has partnered with Cube Entertainment, a Korean record label, talent agency, and music production organisation, to create a “K-pop music metaverse”.
The relationship, which was announced on November 15, will see Animoca and Cube collaborate on multimedia NFTs. Honouring Cube’s collection of prominent actors and K-pop performers. The NFTs will comprise digital music sources such as full-length albums. As well as graphics like artist headshots and album cover.
Yat Siu, CEO of Animoca Brands, expressed delight about the idea of working with Cube to “make the open metaverse a reality”. According to Animoca, the collaboration would provide Cube’s artists and fans with “true digital property rights and other blockchain benefits”.
The partnership would be “an essential beginning for dominating the global digital cultural market. And promoting the digital content sector”, according to Ahn Woo Hyung, CEO of Cube.
BtoB, Pentagon, (G)I-DLE, and Lightsum are among the 50 or so K-pop acts managed by Cube.
Significantly associated with numerous compelling NFTs milestones
Siu has long stressed the disruptive form of ownership possible by nonfungible tokens. Comparing the impact of nonfungible tokens on property rights progress to the Renaissance in early-modern Europe in July 2020.
Animoca has been directly associated with numerous significant milestones in the creation of NFTs. Having invested in Dapper Labs after watching the business bring the Ethereum network to its knees. As a result of the massive popularity of CryptoKitties in 2017.
For the launch of its F1 Delta Time game in 2020, Animoca has secured a global licencing deal with Formula 1. Before selling $3 million worth of virtual land NFTs in a Binance-hosted initial exchange. Offering at the end of the year for its metaverse subsidiary The Sandbox.
The Sandbox raised an additional $93 million at the beginning of November 2021 to develop its NFT metaverse.