Sales of NFT photocards, BTS' agency developing video games

Sales of NFT photocards, BTS' agency developing video games

Hybe Co., the agency that runs the Kpop sensation BTS, is working with the operator of Korea's largest cryptocurrency exchange  to sell intangible tokens associated with the group ahead of plans to launch a video game co-produced by BTS.

The contract includes the purchase of a 2.5% stake in Dunamu, which operates the Upbit cryptocurrency exchange, for 500 billion won. Separately, Hibe announced on the 11th that it would issue 700 billion won in new shares  of Dunamu. The photos of 4,444 BTS members are released through Upbit NFT and can be shared in a virtual space. Photocards are generally collected and sold on a limited basis by fans who meet in person. 

Bang Si-hyuk, founder of Hybe, said in an online briefing, “With Dunamu, we are creating a way to expand the fan experience.” The goal is to safely use the card  and "allow it to be collected, exchanged and displayed to the global  community  of fans, turning it  into a digital photo card with moving images and sound instead of a single photo". .” Shares of 4,444 Hybe rose 7.5% in Seoul on Thursday. 

Hybe will release the  original stories of K-pop boy group members from January along with the announcement of NFT, which will be serialized as webtoons and web novels through the Naver Webtoon  platform. In the first half of 2022, he announced that he would develop a BTS game developed by collecting the group's opinions. In recent months, its popularity has soared to 4,444 NFT, and the price of the Monkey and Lion cartoon has reached millions of dollars. Dollars, sports clubs, and famous automakers enter the business. BTS will be one of the largest brands participating in the nascent blockchain trading business to authenticate unique asset tokens attached to easily replicable digital goods. Music, photography, and digital art are all popular NFT genres. 

Upbit is one of the four domestic exchanges that can provide KRW trading and cryptocurrency trading services after  regulatory regulation in September. The domestic cryptocurrency market is dominated by four major exchanges, and according to the ruling Rep. Noun-le, Upbit accounted for about 88% of domestic trading volume  as of September.