The partnership between Animoca and Cube will see the two firms create multimedia NFTs that celebrate renowned K-pop actors and musicians. The NFTs will include artists’ portraits, album art, or digital sound sources, including full albums.
Blockchain gaming firm Animoca Brands is collaborating with the Korean record label, talent agency, and music production company Cube Entertainment to develop a “K-Pop Metaverse.” The partnership will see the firms create multimedia NFTs for artists on Cube’s roster, according to the announcement. The artist portraits, album arts, full-length albums will be featured as visual or audial NFTs in the Metaverse. Animoca Brands’ co-founder and CEO Yat Siu spoke about the potential of the Metaverse and said:
“K-pop is taking the world by storm, and here at Animoca Brands, we can’t wait to work with Cube Enterprises and its roster of K-pop artists as we continue our efforts to make the open metaverse a reality.”
Animoca and Cube
Animoca Brands are optimistic that the partnership will facilitate actual digital property rights besides bringing the benefits of blockchain technology for the artists in Cube’s roaster and their fans. Cube Entertainment CEO Ahn Woo Hyung added that their collaboration would be an essential start that would lead the entire global digital culture market and advance the whole digital content industry. Woo Hyung stated:
“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.”
Animoca is keen on participating in the emerging metaverse industry, working hard to follow in the footsteps of social media giant Facebook which recently rebranded to become Meta. The firm’s president Evan Auyang is on record saying the company was looking for its next round of funding to help it achieve this goal.
Characters of the Bored Ape Yacht Club
As the crypto market, especially the NFTs industry continues to surge, several companies are trying to merge NFTs with the music industry. Last week, leading music label Universal Music announced they were launching a new brand called Kingship, which would include all the characters of the Bored Ape Yacht Club. Emerging media reports indicated all members would have their personality and sound, and the band would release original musical tracks, just like a regular band.
Cube currently manages around 50 K-pop artists, including BtoB, Pentagon, Lights, and (G)I-DLE. Cube’s Siu has been long emphasizing the disruptive form of ownership that NFTs enable. In the past, Siu has compared the impact of NFTs on advancing property rights to the whole Renaissance during early-modern Europe back in July 2020. Animoca has been closely linked to several key milestone growths when it comes to NFTs.