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A collaboration between AI-focused K-pop girl group Aespa (pictured) and Web3 artist Blake Kathryn will be auctioning off an NFT collection via Sotheby’s digital marketplace from October 13 to 21. Photo: @saiasei/ Twitter
K-PopNews

K-pop’s dedication to NFTs and the metaverse remains strong in 2022, with new platforms and collaborations, despite some fans’ misgivings

  • K-pop labels and companies have been investing heavily in the metaverse and NTFs, and show no signs of slowing down in 2022
  • From semi-virtual group Aespa to Momentica, a new platform offering unique collectibles from Hybe groups, K-pop is still in love with Web3 tech
K-pop, Mandopop and other Asian pop
Tamar Herman
Why you can trust SCMP

K-pop’s love affair with Web3 tech trends is still burning strong.

Last year, NFTs and metaverses were the hottest tech buzz of the year, and K-pop companies, like many entertainment counterparts, began rapidly investing. Despite some popularity waning in early 2022, K-pop companies continue to invest.
In recent weeks, major industry players have announced new ventures that emphasise how popular these tech endeavours are among K-pop acts and companies as a new potential revenue source, despite mixed feelings from fans.

In September, IPX, formerly Line Friends, launched a collaboration between virtual influencer Wade and fashion label Peaceminusone, spearheaded by G-Dragon, which included different digital projects and an NFT launch.

Also in September, boy band P1Harmony joined Asian entertainment-focused metaverse platform Gemie, which claims to “offer a one-stop solution for artists and celebrities to realise their virtual ambitions”, like hosting virtual events and launching metaverse-focused collections to fans active on the platform.

The growth has continued, with October 5 witnessing a new platform, Momentica, created by Levvels, a US-based joint venture by Korean blockchain and fintech giant Dunamu and Hybe, home to K-pop groups such as BTS and NewJeans.

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Momentica is a “flagship platform for fan-artist engagement built on sustainable blockchain technology”, according to Levvels, and will open formally in mid-October.

The October 5 early launch gave fans of Hybe groups Seventeen, Fromis 9, Tomorrow X Together, Enhypen and Le Sserafim a chance to get unique digital collectibles for free.

NFTs and other digital collectibles built on blockchain technology have received lots of love from some, while concerns over sustainability and viability have led to many naysayers, especially after some high-profile NFT robberies and cryptocurrency crashes.

On Momentica’s tweet announcing the Hybe collaboration ahead of the launch, several comments from fans declare simply “no.”
South Korean K-pop group Le Sserafim at Seoul Festa 2022 in Seoul. Photo: Jung Yeon-je/AFP

The upswing is expected to continue: a collaboration between AI-focused girl group Aespa and Web3 artist Blake Kathryn will also be auctioning off an NFT collection via Sotheby’s digital marketplace from October 13 to 21.

Fans who purchase these “ae girls” NFTs will have access to exclusive content, and even opportunities to meet the K-pop quartet.

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