TWICE, 2PM Ok-pop company JYP plans foray into NFTs

JYP Leisure, a South Korean leisure conglomerate that counts Ok-pop acts together with 2PM and TWICE amongst its stars, has unveiled a plan to associate with blockchain firm Dunamu to arrange a non-fungible token platform devoted to Ok-pop.

Quick information

  • JYP’s partnership with Dunamu, the operator of Korea’s largest crypto buying and selling platform, Upbit, will contain the establishing of a joint enterprise to develop a platform for the manufacturing, distribution and buying and selling of NFT-linked Ok-pop digital property, in accordance with a number of native media experiences, together with reporting by the official Yonhap Information Company.
  • Dunamu plans to accumulate a 2.5% stake in JYP by buying shares from JYP CEO Jinyoung Park, in accordance with the experiences.
  • With JYP’s wide selection of well-liked Ok-pop acts, the three way partnership is anticipated to utilize the mental property of JYP artists together with 2PM, Day6, TWICE, Stray Children and Itzy. 
  • JYP is just not the primary Ok-pop firm that has proven curiosity in NFTs. In April, Worldwide Asset eXchange introduced that it had joined forces with Ok-NFT, an NFT firm, to problem NFTs of Ok-pop group A.C.E, which debuted in 2017.
  • Courageous Ladies, certainly one of Ok-pop’s most outstanding idol teams, final month teamed up with Upbit to launch restricted version NFTs in time for a comeback.
  • Some followers could not welcome information of the NFT tie-up, and a few have already expressed considerations on social media platform Reddit that digital property would possibly hurt the setting, which may in flip damage the reputations of the artists.

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