by K-Star Live, a Korean wave media startup with 9.3 million global subscribers, announced on the 12th that it had signed a contract to enter the OKEx NFT market as a K-POP NFT.
OKEx, a global virtual asset exchange, will launch NFT Marketplace, an NFT trading platform, at the end of August and trade NFT content across media ranging from visual arts, games, music, and sports.
The K-POP NFT special exhibition hosted by K-Star Live and OKEx will be held with SBS Medianet, the existing partner of K-Star Live. SBS Medianet’s THE SHOW is the only global K-POP music variety show in Korea and is being broadcast not only to Korea and Japan but also to major Southeast Asian countries through MTV Asia, France, Russia, Australia, and 76 countries around the world.
First, the video of 10 idol teams appearing in The Show will be launched on the NFT market, and more idol content will be made with NFT in the future. This entry is significant because it is the first Korean project to launch NFT as a special exhibition rather than simply entering an extensive overseas exchange by securing IPs of various artists through partnerships with broadcasters.
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An official explained that the most significant reason the NFT industry is paying attention to K-POP is its structure that allows fans, artists, and even the exchanges to be ‘win-win’ through the influx of them. K-POP is already starting to board the metaverse thanks to the purchasing power of a solid global fandom and rapid digital transformation. Each NFT token has its unique value. All K-POP contents sold with NFT have different values and are limited edition goods that cannot be copied. By purchasing NFT, fans own rare goods and can communicate directly with the artist. In addition, purchased content can be expected to increase in value as an asset and can be sold to other fans on the NFT trading platform, where all transaction records are recorded on the blockchain.
A K-Star Live official said, “As K-Star Live enters the NFT market in partnership with OKEx, Hallyu fans around the world can purchase and capitalize the star’s limited edition digital content, and through this, a new market economy for Hallyu fans can be created. In the future, K-Star Live will expand the K-POP ecosystem through accumulated technology and various collaborations and make it easier for Hallyu fans to access the blockchain.”
