Brokerage of K-pop group BTS, NFT partnership with Upbit staff

Hybe, a brokerage firm for K-pop superstar BTS, announced on April 4 that it would partner with Dunamu, the operator of Upbit, a cryptocurrency exchange, to launch a joint venture. NFT.

The two companies exchange shares through third-party distribution and licensing rights. Hibe will secure a 2.5% stake in Dunamu for $ 500 billion in earnings, and Dunamu will secure a new stake of 700 billion in earnings in Hibe for $ 592.4 million (5.6%).

Hibe CEO Bang Si-hyuk and Dunamu Song Chairman Song Chi-hyeong said in a joint statement at a press conference the same day: “We will create an NFT linked to the stars of the K-pop NFT will eventually be used in Hibe Application Software. “Weverse.” Weverse is an application that gets artists and fans all over the world talking.

BTS 'NFT will include movies and music. Fans around the world can swap NFT graphics cards in a virtual space.

Hi-Vi said it will further expand the impact of the BTS brand in the digital industry. With the development of the NFT collaboration, the video game industry and BTS 'webtoon are also starting to get honest.

South Korea's four major entertainment companies, Hybe, JYP, SM, and YG, have acquired NFT technology. JYP Entertainment partnered with Dunamu to develop the KPOP-based NFT platform in July this year, and SM announced the development of the cryptocurrency and blockchain platform as early as 2019.