BTS NFTs Coming Soon

　　The Hallyu wave is now joining the NFT wave.

　　Hybe, the force to be reckoned with behind the well known kid band BTS, reported on Thursday, November 4, in a live streamed preparation that it will dispatch new pop demonstrations and putting resources into NFTs as it collaborated with South Korea's top cryptocurrency trade administrator Dunamu to build up a joint dare to investigate the non fungible token (NFT) market.

　　“HYBE and Dunamu plan to develop an NFT business under a new joint venture, which will allow the artist IP-based content and products that HYBE has showcased to date to become digital assets for fans,” said Bang in the English-subtitled announcement.

　　The organization uncovered in the administrative filings that the association incorporates an arrangement including Hybe purchasing a 2.5% stake in Dunamu, administrator of Upbit crypto trade, for 500 billion won (in excess of 21 billion pesos). Independently, Hybe will give 700 billion won (roughly 29 billion pesos) of new offers to Dunamu which would make it a minority investor of Hybe with 5.57 percent proprietorship.

　　Additionally, the photograph cards of BTS individuals, which fans purchase as collectibles, will presently likewise be delivered as NFTs on Upbit, and would ultimately be accessible to share and exchanged on Hybe's application Weverse.

　　Hybe founder Bang Si-hyuk stated in an online briefing that their collaboration with Dunamu is a way “to expand the fan experience.”

　　“We are under talks to shape up a detailed action plan with Dunamu on how to provide secure photo card ownerships and allow fans to possess them permanently. They will enjoy diverse experience by collecting, exchanging and displaying the cards through global fan communities such as Weverse, instead of having a single photo,” Bang said.

　　Right now, there are just four Korean exchanges, incorporating Upbit with 88% of exchanging volume, that are permitted to offer won-based exchanging just as crypto-to-crypto exchanging administrations after an administrative crypto limitation last September. The other three are Bithumb, Coinone, and Korbit.

　　As a reminder, WikiBit is ready to help you search the qualifications and reputation of projects in a bid to protect you from hidden dangers in this risky industry!

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