HYBE launches K-Pop NFT platform for fans of TOMORROW X TOGETHER, SEVENTEEN and more, via ‘LEVVELS’ JV
On Tuesday, October 4, we told you about some of the steps HYBE is taking that suggests a strategy diversification its business is less financially dependent on top group BTS.
We asked if a major expansion into AI technology could be next on the agenda, following news that the entertainment giant has reportedly acquired AI audio startup Supertone for 45 billion Korean Won (about 31.75 million dollars at current exchange rates), invested an initial $3.6 million in the company last year.
Another area where HYBE is developing is NFT.
Last November, HYBE throw significant weight behind the crypto craze through a joint venture with a blockchain and fintech company based in Korea Dunamu.
That strategic partnership saw HYBE acquire the Korean news site Pulse News was reported at the time as 861,400 shares of Dunamu at 500 billion Korean won (approx. 421 million dollars).
Dunamu meanwhile, according to a submit the application as prescribedacquired 2,302,570 shares of HYBE for 700 billion Korean won (590 million dollars).
HYBE and Dunamu currently run a joint venture company based in Los Angeles called LEVELwas established in January 2022, to “enhance the fan experience by leveraging blockchain technology, including Web3 and non-fungible tokens (NFTs)”.
LEVVELS just launched a new K-pop collection platform called MOMENTICAdescribed as a “leading platform for fan-artist interaction built on sustainable blockchain technology”.
On MOMENTICA, K-Pop fans will be able to access unique digital collections, called ‘TAKE’, which exist in both image and video formats and are only accessible through the background. this platform.
MOMENTICA pre-registration event promotion starts today (Wednesday, October 5), where fans of five K-Pop superstar groups, including SEVENTEEN, fromis_9, TOMORROW X TOGETHER, ENHYPEN and LE SSERAFIM, can get the first digital collections from these groups for free.
LEVVELS says future updates will provide “more advanced ways” for fans to trade and personalize these collectibles, and the service’s official launch will take place midway through. October.
All ‘TAKE’ collections are recorded on the company’s proprietary LEVVELS Blockchain, 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 globe are known for their sophisticated use of technology in their daily communication within their fanbase.”
Ryan JangLEVEL
“K-pop fans around the globe are known for their sophisticated use of technology in daily communication among their fanbase,” said Ryan JangCOO of LEVVELS Inc.
“To celebrate their passion, we are excited to offer a new digital experience that enhances the way fandoms celebrate the best moments of their favorite artists through technology.
“Our aim is to always enhance the fan experience, and we will continue to update and expand our services while maintaining a friendly and intuitive user interface (UI). “Worldwide music business
