HYBE Launches K-Pop NFT Platform For Fans Of TOMORROW X TOGETHER, SEVENTEEN & More, Via ‘LEVVELS’ JV
On Tuesday, October 4, we told you about some of the steps HYBE is taking that suggest a strategy to diversify its business to be less financially dependent on its flagship group BTS.
We asked whether a major expansion of AI technology could be next on the agenda, following the news that the entertainment giant has reportedly acquired AI audio startup Supertone for 45 billion South Korea Won (about 31.75 million dollars at current exchange rates), after investing an initial USD 3.6 million in the firm last year.
Another sector that HYBE plays for is NFTs.
Last November, HYBE added significant weight to the crypto craze via a joint venture with Korean blockchain and fintech company Dunamu.
The strategic partnership saw HYBE acquire the Korean news site Pulse News reported at the time to be 861,400 shares in Dunamu for 500 billion South Korean won (approx. 421 million dollars).
Dunamu, meanwhile, according to a regulatory filing, bought 2,302,570 shares in HYBE for 700 billion South Korean won (590 million dollars).
HYBE and Dunamu now operate a Los Angeles-based joint venture company called LEVVELS, established in January 2022, to “advance the fandom experience by leveraging blockchain technology, including Web3 and non-fungible tokens (NFTs)”.
LEVVELS has just launched a new K-pop collectibles platform called MOMENTICA, described as a “flagship fan-artist engagement platform built on sustainable blockchain technology”.
At MOMENTICA, K-Pop fans will be able to access unique digital collectibles, called ‘TAKE’, which exist in both photo and video formats, and are only available through this platform.
MOMENTICA’s pre-registration campaign starts today (Wednesday 5 October), where fans of five superstar K-Pop groups, including SEVENTEEN, fromis_9, TOMORROW X TOGETHER, ENHYPEN and LE SSERAFIM, can get the first digital collectibles from these groups for free.
LEVVELS says future updates will provide “more advanced ways” for fans to trade and customize these collectibles and the official launch of the service will take place in mid-October.
All ‘TAKE’ collectibles are registered on the company’s proprietary LEVVELS Blockchain, which is based on the cloud-based blockchain service platform, Luniverse.
Luniverse is created and operated by Lambda256, a subsidiary of Dunamu.
“K-pop fans around the world are known for their sophisticated use of technology in their daily communication within their fan communities.”
Ryan JangLEVELS
“K-pop fans around the world are known for their sophisticated use of technology in their daily communication within their fan communities,” said Ryan JangCOO at LEVVELS Inc.
“To celebrate their passion, we are excited to offer a new digital experience that enhances how the fandom celebrates the best moments of their favorite artists through technology.
“Our goal is to always improve the fan experience, and we will continue to update and expand our services while maintaining a user-friendly and intuitive user interface (UI).”Music business worldwide
