JYP units up subsidiary for world content material distribution and new enterprise growth

[Courtesy of JYP Entertainment]

SEOUL — JYP Leisure, a serious Okay-pop powerhouse in South Korea, will arrange a subsidiary that serves as a strategic hub for advancing the worldwide distribution of content material, creating new companies and enhancing the mental property of artists.

JYP mentioned the subsidiary named “JYP Three Sixty (JYP 360˚) is aimed toward offering a variety of modern next-generation fan experiences, strengthening the worldwide competitiveness of Okay-pop and increasing its market via cooperation with world corporations.

As Okay-pop fandom grows globally and the affect of Okay-pop artists as a supply IP grows, South Korean leisure corporations take note of diversified IP companies and platforms that distribute content material and merchandise to world followers

In July, JYP joined palms with Dunamu, a blockchain firm that operates South Korea’s main cryptocurrency trade Upbit, to launch a non-fungible token (NFT) platform enterprise that makes use of the mental property of artists. A non-fungible token is a unit of knowledge saved on a blockchain community of interlinked digital ledgers. Every NFT is licensed by a blockchain as a novel digital asset that isn’t interchangeable. NFT can be utilized to characterize several types of digital media akin to video clips and digital information.

A COVID-19 pandemic has prompted a stoop in South Korea’s performing arts business. Nearly all offline performances have been canceled. Solely a small variety of in style artists earned revenue via on-line concert events whereas many different artists stay inactive or discover new jobs.

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