As the Korean wave hit the world, K-pop bands like BTS rose to immense fame. While the band had already established a prominent presence in South Korea, BTS further expanded and amassed fans from all around the globe. Now, jumping into the crypto-verse like several other celebrities, the agency that manages the K-pop band, Hybe revealed that it would be diving into the NFT space.
Non-fungible tokens aka NFTs have spruced up the adoption rate of crypto while giving artists the recognition that they deserve. An array of people entered the NFT market starting a whole new fervor around the industry. Prominent firms, sports personalities, actors, directors, singers, social media influencers have all decided to jump on to the NFT wagon.
Hybe, a South Korean K-pop management firm, that also manages notable pop stars, Justin Bieber, and BTS, decided to enter the NFT space by creating a whole new marketplace itself.
BTS fans in for a digital treat?
Hybe was all set to join hands with South Korea’s largest crypto firm, Dunamu to roll out a new marketplace that would carry out the sale and trade of NFTs of BTS and other artists that Hybe represents.
BTS fans who are also known as “Army” have time and again expressed immense love for the band. The sale of merchandise of the band along with photo cards has witnessed drastic growth over the years. Therefore, taking it to the digital world would be a treat for the firm as well as the fans.
The firm has no intentions of entirely replacing offline concerts. Instead, Hybe hopes that both online and offline concerts could co-exist. Additionally, with this marketplace, the management platform aspires to deliver a wide range of “experiences and activities to fans around the world.”
Even though the firm is based in South Korea, the imminent NFT platform would be established in the United States. The forthcoming NFT marketplace will most likely be launched in the first half of 2022.
Responding to Bloomberg, the agency said,
“As we prepare to enter the NFT business in a sustainable manner, we will directly participate in the operation and implement fan-oriented policies.”