HYBE Launches K-Pop NFT System For Followers Of TOMORROW X TOGETHER, SEVENTEEN And Also Even More, Using ‘LEVVELS’ JV – Music Business Worldwide
On Tuesday, October 4, we informed you regarding several of the actions HYBE is taking that mean a technique to expand its organization to be much less monetarily reliant on its front runner team BTS.
We asked if a significant development right into AI modern technology might be following on the program, complying with the information that the home entertainment titan has actually apparently gotten AI audio start-up Supertone for 45 billion South Korea Won( approx $3175 m at existing currency exchange rate), having actually spent a preliminary USD $3.6 million in the company in 2015.
Another industry that HYBE is making a play for is NFTs.
In November in 2014, HYBE tossed significant weight behind the crypto trend using a joint endeavor with Korea-based blockchain and also fintech firm Dunamu.
That tactical collaboration saw HYBE get what Korean information website Pulse News reported at the time to be 861,400 shares in Dunamu for 500 billion South Korea won (approx. $421 m).
Dunamu at the same time, according to a governing declaring, obtained 2,302,570 shares in HYBE for 700 billion South Korea won ($590 m).
HYBE and also Dunamu currently run a Los Angeles-based joint endeavor firm called LEVVELS, developed in January 2022, to “progress the fandom experience by leveraging blockchain innovation, consisting of Web3 as well as non-fungible symbols (NFTs)”.
LEVVELS simply introduces a brand-new K-pop antiques system called MOMENTICA, called a “front runner system for fan-artist involvement improved lasting b