Hong Kong-based blockchain sport developer Animoca Brands is bringing Okay-pop teams to affix the bandwagon of non-fungible tokens, teaming up with a Korean leisure company to launch digital collectibles starring music artists and actors. The transfer will add extra names to the rising record of celebrities embracing NFTs that has already included supergroup BTS.
Animoca introduced on Monday that it has partnered with Cube Entertainment, a South Korea-listed expertise company behind lady group (G)I-dle and boy band BTOB, to launch an NFT-related enterprise. NFTs are digital belongings saved on the blockchain that certify the authenticity of objects corresponding to music, art work and in-game objects. The three way partnership will challenge NFTs primarily based on songs, albums, portraits and avatars of Dice Leisure’s artists, in keeping with Animoca.
“Okay-pop is taking the world by storm,” mentioned Yat Siu, cofounder and chairman of Animoca, in an announcement. “Right here at Animoca Manufacturers we are able to’t wait to work with Dice Leisure and its roster of Okay-pop artists as we proceed our efforts to make the open ‘metaverse’ a actuality.”
Animoca achieved unicorn standing in Could following the success of its blockchain-based video games that enable customers to commerce in-game belongings as NFTs. The seven-year-old startup additionally has a monitor report of investing in NFT-related firms; its portfolio consists of Dapper Labs, the agency behind pioneering blockchain sport CryptoKitties, in addition to Sky Mavis, the developer of worldwide sensation Axie Infinity.
The collaboration between Animoca and Dice Leisure is about to onboard extra Okay-pop artists to the NFT frenzy. In early November, BTS’s label, Hybe, mentioned it might staff up with Korea’s largest cryptocurrency change operator to challenge NFT picture playing cards of its artists. SM Leisure, the administration firm behind Ladies’ Era and EXO, has additionally introduced plans to enterprise into the NFT area.
The participation of celebrities has helped the NFT market achieve recognition over the previous 12 months. The red-hot area noticed its buying and selling quantity attain $4.2 billion in October alone, up 2% month-over-month, in keeping with blockchain analytics agency DappRadar.