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Roehl Niño Bautista · · 1 min readBTS’ agency to invest in cryptocurrency platform in Korea
“Hybe, the rapidly-growing South Korean company best known as the home of hitmakers BTS, will be launching new pop acts and investing in NFTs,” reported the South China Morning Post.
Details:
- In a corporate briefing, Hybe said it is investing an undisclosed amount in Dunamu, a South Korean cryptocurrency platform that runs exchange platform Upbit
- Both firms will also launch a joint venture that will produce non-fungible tokens (NFTs) featuring South Korean boyband BTS and other Hybe artists.
Dive deeper:
- Hybe also has its own fan-to-artist communication app, which it plans to integrate with leading livestreaming app V Live.
- The announcement that it will create NFTs was met with concern online, South China Morning Post reported, where users underlined the digital asset’s environmental impact and referenced BTS’ climate change speech at the United Nations.
Editing by Collin Furtado and Arpit Nayak
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