K-pop adopts NFT; here’s how PrivacySwap leverages the hype to expand its platform.

K-pop music has ruled the world’s entertainment industry, and its influence is slowly spreading into the DeFi Space. Now that K-pop has adopted NFT, here’s how PrivacySwap uses it to expand.

Global K-pop Group EXO’s music label, SM Entertainment, recently announced that they would include NFT on their SMCU (SM Culture Universe) metaverse. This will allow fans to recreate its NFT content and earn a percentage in return. The company will use Solana to issue its NFT. 

Moreover, SM entertainment, one of the trendsetters in the K-pop Industry, also introduced Metaverse. They formed a group they called Aespa that consists of 4 members and four “ae members.” SM created these ae members through AI. Aespa’s first album comes in three versions, in which the CD version is scannable through AR (augmented reality) scanner so that fans can explore a virtual world. 

BIG companies to follow the NFT HYPE

Following SM entertainment’s announcement of them adjoining NFTs to their (SMCU), BTS’ music label, HYBE, unveiled that they will join the DeFi space through NFT. HYBE announced on their “Briefing with the Community” Livestream last November 4th, 2021, their partnership with Dunamu.

“The new and innovative fan experience that will unfold in HYBE will include future experiences that fans have yet to experience but which they need most of all.” -Bang Si Hyuk.  

Song Chi Hyung, Chairman of the Dunamu Board of Directors and HYBE’s new partner, introduced himself as an “entrepreneur who dreams of industrial innovation, just like Chairman Bang Si Hyuk.” They emphasized a shared vision as the HYBE’s event theme was “boundless,” which he claimed “aptly represents the values that the Dunamu has been pursuing as well.”

For reference, Dunamu owns and manages a digital asset exchange called UPbit, two investment exchange platforms, Stockplus and U-Stockplus. They also own an equity management platform called U-Stockplus (Onboard). UPbit is a cryptocurrency exchange platform having offices in South Korea, Indonesia, Thailand, and Singapore. Stockplus is a securities information and trading platform that works closely with 11 broker-dealers. U-Stockplus is an over-the-counter (OTC) trading platform for private enterprises. Onboard assists private enterprises in electronically managing equity for their owners. 

Related Article: Cryptocurrency booms in South Korea: What is PrivacySwap’s take on it? 

K-NFT: who started the hype?

Apart from them, JYP Entertainment, which holds idol groups like Wonder Girls, Twice, and Stray Kids, also shows interest and announced a planned collaboration with Dunamu to offer NFTs. Lastly, YG (Blackpink’s Music label) also showed interest in the NFT offering. 

Aside from the Big 3 companies and HYBE, other K-pop entertainment groups offer NFT. A.C.E.’s company, WAX, started the NFT trend on K-pop last April. 2021. Furthermore, Brave Girls, one of K-most pop’s popular idol groups to date, collaborated with UPbit the previous month to release limited edition NFTs in preparation for their comeback.

Despite the trend of NFT to K-pop, fans are showing mixed emotions towards the news.  ARMY (not PRVArmy), BTS fans, shows disagreement with the company’s announcement. Thus, #ARMYAgainstNFT and #BoycottHYBENFT trended a day after the company briefing. The fans said that digital assets might have a negative impact on the environment.  They also mentioned that this is against what BTS said in their UN speech that “climate change is an important problem.” 

 Regardless, the company still seems to continue with its NFT plan. 

PrivacySwap’s Genesis NFT: A different approach

PrivacySwap saw these NFT hypes as an opportunity to offer something similar with a different and higher return. The platform will offer NFTs that people can stake in various farms and pools. Thus, providing an extra APR boost to stakers. 

PrivacySwap’s NFT consists of 3 versions: Privacy Silver which costs 0.18 BNB each; Privacy Gold which is 0.38 BNB each; and Privacy Diamond, which costs 0.8 BNB each. Moreover, these NFTs boost your farms’ APR. Aside from up to 70,000% APR on PRV’s native farms and pools, staking these NFTs can give you an extra 10% (for Privacy Silver), 20% (for Privacy Gold), and 50% (for Privacy Diamond). 

In addition, the Genesis NFT is limited to 1500 NFTs only. This is because  PrivacySwap wanted to make those who hold these first-generation NFTs receive their VIP offers such as exclusive airdrops and priority access to games, other NFTs, and more. These people could also enjoy early products and features and be part of the company’s whitelist. It should also be noted that the Genesis NFT can be staked on all future layers of PrivacySwap, making it a valuable asset for every crypto holder! 

Moreover, there are still NFTs available for purchase, so buy one now to enjoy their exclusive offers. 

As a whole 

The K-pop industry is leaning towards digital assets. Though some show a negative approach towards it, many still embrace modernity and offer excitement for such an announcement. 

Nevertheless, PrivacySwap saw NFT as a fantastic avenue of income to its users. Therefore, offering something out of it became their recent goal.  Now that they have decided to bring it into reality and started offering and selling NFTs, they assure that every holder and staker will significantly return from investing in the platform. 

The best thing to do now is to buy their NFTs while listening to your favorite K-pop song. 

Do you have any questions? Don’t keep it; ask us. 

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