SM Leisure, considered one of Korea’s largest leisure businesses, introduced its plans to create an NFT division inside its future metaverse (SMCU). They’re contemplating utilizing the Solana blockchain to situation NFTs.
Ok-Popular culture has been on the rise, conquering new followers everywhere in the world. SM has been engaged on integrating expertise into the music trade, aiming to broaden the market. Nevertheless, some followers have expressed not understanding what it’s all about and never seeing the necessity for it.
The metaverse is an area of digital actuality that goals to create an amalgam of expertise -such as VR-, blockchains, social media, gaming, and plenty of different potentialities that customers can work together with and expertise in new sensory methods. In different phrases, it interconnects the actual world with the digital one.
Equally, NFTs are digital belongings that exist on a blockchain and have an figuring out code that makes every one distinctive, inconceivable to repeat, and in lots of circumstances restricted -increasing their value-.
NFTs symbolize actual objects, like artworks and gaming gadgets, and have grow to be very fashionable. In lots of circumstances, anybody can see an NFT and share it via photographs, however just one particular person can personal the unique one and show it via its built-in authentication.
Associated Studying | Quentin Tarantino ‘Pulp Fiction’ NFTs Are Coming… With A Twist
On this case, the SMCU metaverse intends to make use of Ok-Pop artists’ mental property to design “a metaverse-directed content material IP”. It additionally focuses on changing into a spot of creation for Ok-Pop followers, the place they’ll “recreate” the unique content material and make a revenue.
The company thinks the mixing of NFTs will probably be taking the leisure trade to a brand new period of expertise, creation, and consumption.
On the opportunity of constructing it on the Solana Blockhain, a direct supply quoted in a Korean news portal acknowledged:
We aren’t straight collaborating with Solana, however SM Leisure is getting ready to publish NFT, and we’ve got Solana in thoughts essentially the most because the underlying blockchain platform.
Lee Soo-Man Envisions A Digital Future
Chief producer Soo-man Lee is straight concerned within the mission and shared his views in a pre-recorded video in the course of the Solana Breakpoint 2021 in Lisbon.
He expressed that, because the curiosity within the metaverse and NFTs is seeing outstanding progress, he envisions “the long run as a world of robots and celebrities along with SM.”
SM Leisure debuted “a metaverse woman group known as ‘aespa’” final 12 months, who made their first bounce into the setting with self-created avatars that co-exist with the group’s members.
The expansion of aespa’s recognition was the beginning level that turned many heads into the probabilities of the metaverse for the music leisure trade, and Lee Soo-Man shared SM Leisure is enthusiastic about reaching the “subsequent stage”.
Associated Studying | K-Pop Sensation BTS To Release Band NFTs And Video Games
Inside SM Leisure’s Metaverse and NFTs
Contained in the SMCU metaverse, recreated NFT content material by prosumers would have earnings of 1/100 or 1/1000, the producer claimed.
We have to obtain a mannequin the place lots of and even 1000’s of prosumers from everywhere in the world can be a part of collectively to broaden their creativity and create a single NFT content material, and get to personal a share of it in return. NFT contents which are created on this approach may have a lifetime worth. They received’t be content material that perish after being consumed as soon as,
Moreover, the company desires to design an setting that draws prosumers by delivering a whole expertise with out the need for purchases.
Lee Soo-Man thinks the metaverse content material can open up a brand new period “the place it might be exchanged like foreign money or via a standard bartering system.” He stated that authorized rules can be fastidiously thought of on this state of affairs.
The producer sees the NFT division inside the metaverse as a risk to “design our future” in a approach the place “a totally new mode of manufacturing, advertising, and distribution will happen.”
Lee Soo-Man expects Korea “to grow to be a frontrunner in metaverse and NFT content material” by rising the nations NFT via the creation of celebrities avatars and different options inside the metaverse.