Animoca to build a K-pop–focused metaverse with Cube Entertainment

Animoca Brands, the blockchain-gaming provider, and Cube Entertainment, the record label and production hub, have agreed to create a metaverse focused on the K-pop music genre.

Animoca Brands and Cube Entertainment (@cubeunited) announced a joint venture for the purposes of building a music #metaverse, and issue #NFTs and ecosystem tokens based on the IP rights of Cube Ent’s #KPOP music artists and actors.https://t.co/PUOFvrj9iU

— Animoca Brands (@animocabrands) November 15, 2021

The agreement envisages the creation of multimedia NFT, linked to Cube’s popular musicians.

Tokens are based on imagery, including portraits and avatars of artists, as well as audio recordings, including full-length albums.

Animoca Brands believes that NFTs will provide genuine rights to digital ownership and other benefits of blockchain for musicians and their fans.

In October, Animoca Brands were valued at $2.2 billion after the close of a $65 million funding round.

In September, the developer signed a binding agreement to acquire a controlling stake in the NFT platform Bondly.

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