Animoca Brands and Cube Entertainment form joint venture for K-pop music metaverse and NFTs
15 November 2021 -- Hong Kong and Seoul, South Korea -- Animoca Brands and Cube Entertainment (KOSDAQ: 182360; “Cube Ent”) announced today a joint venture for the purposes of building a music metaverse, and issue non-fungible tokens (NFTs) and ecosystem tokens based on the intellectual property rights of Cube Ent’s globally popular K-pop music artists and actors.
The joint venture will issue NFTs using resources including digital sound sources, albums, portraits, and avatars of globally popular K-pop artists under the management of Cube Ent. This will enable true digital property rights and other blockchain benefits for artists and their fans.
Cube Ent has 50 talents under management, including K-pop artists Jo Kwon (조권), BTOB (비투비), PENTAGON (펜타곤), CLC (씨엘씨), (G)I-DLE ((여자)아이들), LIGHTSUM (라잇썸), entertainers Park Mi Sun (박미선), Lee Hwee Jae (이휘재), Lee Sang Jun (이상준), Kim Kyung Ah (김경아), Heo Kyeong Hwan (허경환), Lee Eun Ji (이은지), actors Park Sun Young (박선영), Kim Jin Woo (김진우), Na In Woo (나인우), Moon Su In (문수인), Seoung You (승유), Yoo Seonho (유선호), and entertainers Kong Seo Yeong (공서영) and Jung Ji Woo (정지우).
Yat Siu, co-founder and executive chairman of Animoca Brands, commented: “K-pop is taking the world by storm, and here at Animoca Brands we can’t wait to work with Cube Ent and its roster of K-pop artists as we continue our efforts to make the open metaverse a reality.”
Ahn Woo Hyung, CEO of Cube Ent, commented: “We are excited to collaborate with Animoca Brands to create NFTs and an associated ecosystem featuring Cube Ent’s IPs of music, images, and more. We anticipate this will be an important beginning for leading the global digital culture market and advancing the digital content industry."
NFTs are digital assets and collectibles that possess many characteristics normally associated with physical items, including authenticity, rarity, scarcity, ownership, provenance, and other properties that are independently guaranteed, verified, and secured on blockchain.
Unlike most digital content, which is temporarily provided to users on a licensing basis, NFTs are truly ownable - just like physical collectibles. These characteristics of NFTs allow them to attain significant value as digital collectibles.
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About Cube Entertainment
Cube Entertainment finds rookies with potential, trains them with a professional system, develops them into outstanding artists with excellent skills and attitudes to produce quality content for the global market. Experts from various parts of the industry utilize their analytic skills and efficient system to bring artists to the pinnacle of the K-pop industry. As a leader of the industry, Cube has produced the best artists since its establishment in 2006, including 4MINUTE, BEAST, G.NA, BTOB, PENTAGON, CLC, (G)I-DLE, and LIGHTSUM, and recruited entertainers such as Park Mi Sun (박미선), Lee Hwee Jae (이휘재), Lee Sang Jun (이상준), Kim Kyung Ah (김경아), Heo Kyeong Hwan (허경환), Lee Eun Ji (이은지), actors Park Sun Young (박선영), Kim Jin Woo (김진우), Na In Woo (나인우), Moon Su In (문수인), Seoung You (승유), Yoo Seonho (유선호), and entertainers Kong Seo Yeong (공서영) and Jung Ji Woo (정지우), making achievements in the global market not only for music but for various K-content. In 2022, Cube aims to provide more intimate experiences to fans through promotions in the United States, Europe, Asia, and all around the world.
Official Website: www.cubeent.co.kr
Official Twitter: twitter.com/cubeunited
About Animoca Brands
Animoca Brands, ranked in the Financial Times list of High Growth Companies Asia-Pacific 2021, is a leader in digital entertainment, blockchain, and gamification that is driving digital property rights via NFTs and gaming to help build the open metaverse. It develops and publishes a broad portfolio of products including the REVV token and SAND token; original games including The Sandbox, Crazy Kings, and Crazy Defense Heroes; and products utilizing over 325 popular intellectual properties including Formula 1®, Marvel, WWE, Power Rangers, MotoGP™, and Doraemon. The company has multiple subsidiaries, including The Sandbox, Blowfish Studios, Quidd, GAMEE, nWay, Pixowl, Bondly, and Lympo. Animoca Brands has a growing portfolio of more than 100 investments in NFT-related companies and decentralized projects that are contributing to building the open metaverse, including Axie Infinity, OpenSea, Dapper Labs (NBA Top Shot), Bitski, Harmony, Alien Worlds, Star Atlas, and others. For more information visit www.animocabrands.com or follow on Twitter or Facebook.
Animoca Brands global contact: email@example.com
From left to right, top row: BTOB, PENTAGON
From left to right, bottom row: (G)I-DLE, LIGHTSUM