Animoca Brands Partner With Cube Entertainment To Create A Music Metaverse
NFTs’ penetration into various niches continues with its penetration into the music industry. The latest is the collaboration between Animoca brands and Cube entertainment to develop a Korean pop entertainment metaverse. The former is an NFT gaming company, while the latter is a Korea-based entertainment firm.
More Blockchain Benefits For K-Pop Entertainers
The NFTs created by these two firms will celebrate famous entertainers in the music and movie industries on Cube’s list of artists. Some NFTs that will be included are NFTs of complete albums and other sounds from Korean entertainers. The chief executive of the NFT gaming company, Yat Siu, revealed that his company is excited about Cube’s new partnership to establish a music virtual reality world in Korea. Siu further said that this deal would ensure that the music label’s artists can enjoy various blockchain advantages, especially the exclusive rights to their digital property. Speaking on the new deal, the music label boss opined that this partnership would lead to embracing the digital music culture globally and promoting the digital content sector.
As one of the leading entertainment firms in Korea, Cube manages over 45 Korean pop musicians such as Lights. Siu has been an advocate of NFTs for a long time as he loved the modernized ownership model it offers.
Animoca Keeps Making Giant Strides In The NFT Industry
Animoca continues to be a leading figure in defining moments of the NFT space, including investment in Dapper Labs following their successful Cryptokitties launch and the take over from the Ethereum network to become the leader in that space.
Later that year, during a Binance-hosted exchange offering, Animoca sold virtual land NFTs for Sandbox (a VR company it owns) to the tune of $3.5m. Early this month, this subsidiary fundraised another $35m to enhance its NFT VR initiative.
Universal Music Forms A New Partnership With An NFT Project
NFT project (the Bored Yacht club) has been signed to the popular music label’s record 10:22 pm dedicated to NFTs. The NFT band, which the music label executive, Celine Joshua, called characters, would be based on Jimmy McNelis’ collection. Joshua disclosed that an experienced team is in place to turn these characters into 3D existences, and they will perform across various domains of the VR space.
This new band (known as the kingship) will face competition from Timbaland music firm, which are also about to launch their ape-themed virtual band. Six members from the bored ape NFT project will feature in Timbaland’s NFT band group known as thezoo, with the first song set to be released November 17.
NFTs continue to add a new dimension to music rights ownership. Recently, American pop artist, MIA, auctioned the release of her new song ‘Babylon’ as an NFT and has announced that all proceeds from the sale will be donated to Courage.org to support their cause. This isn’t the limit NFTs can be applied in the music industry; there would be more NFT applications in the music industry.
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