The mainstream entertainment industry is greatly embracing NFTs. One of the most recent partnerships is between Animoca Brands and Korea’s cube Entertainment. What is the aim of this collaboration?
What is Animoca Brands?
This is a popular NFT gaming firm in Hong Kong, China. Additionally, this venture capital company was founded by Yat Siu and David Kim in 2014. It secured a listing on the ASX, Australian Securities Exchange from 23rd January 2015.
Furthermore, its portfolio keeps growing and includes games, blockchain games and investment in blockchain companies dealing with NFTs.
Also, this NFT gaming firm has a share in several milestones in the growth and development of non-fungible tokens. It has an investment with Dapper Labs. This is after seeing this firm bring the Ethereum network down to its knees due to the rapid success brought by CryptoKitties back in 2017.
Besides, in 2020, Animoca Brands secured a global licensing with Formula 1 to launch the F1 Delta game, one of its very own.
What is Cube Entertainment?
Cube Entertainment is an entertainment company in South Korea. It is a record label, talent agency and music production company. Therefore, the company houses many artists.
Hong Seung-Sung and Monica Shin founded Cube Entertainment on August 26th 2006. Furthermore, this company manages around 50 K-pop artists and K-pop groups. Among these are BtoB, G-Idle, Lightsum and Pentagon.
Animoca Unveils Plans For K-Pop NFT Metaverse
On Monday, November 15th 2021, there was an announcement of the partnership between Animoca Brands and Cube Entertainment. The two are coming together with plans to build a K-pop music metaverse.
Moreover, this partnership will allow the two parties to work alongside each other to create multimedia NFTs that celebrate famous actors and K-pop musicians existing on Cube’s roster. Nonetheless, the NFTs will feature images, from the portraits of artists to their album art. Another feature of the same will be the digital sounds, e.g. the full-length albums.
Talking about this announcement, the co-founder and chief executive of Animoca Brands, Yat Siu, stated that he is looking forward to working with Cube Entertainment to “make open metaverse a reality.”
Moreover, according to Animoca, the partnership will enable both the artists on Cube’s roster and their fans to have their digital property rights and get other benefits of blockchain technology.
On the other hand, the CEO of Cube Entertainment, Ahn Woo-Hyung, explained that this partnership will be “an important beginning for leading the global digital culture market and advancing the digital content industry.”
A Partnership with Plans
This announcement of the partnership between Animoca Brands and Cube Entertainment has a lot in store for K-pop artists and their fans. These two want to build a K-pop music metaverse. From the co-founder of Animoca Brands, Yat Siu, to the CEO of Cube Entertainment, Ahn Woo-Hyung, both parties are very positive about this collaboration and what it will bring into the entertainment industry.
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