SM Leisure, one in every of Korea’s largest leisure companies, introduced its plans to create an NFT division inside its future metaverse (SMCU). They’re contemplating utilizing the Solana blockchain to difficulty NFTs.
Okay-Popular culture has been on the rise, conquering new followers everywhere in the world. SM has been engaged on integrating know-how into the music business, aiming to increase the market. Nonetheless, 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 know-how -such as VR-, blockchains, social media, gaming, and lots of different prospects 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 property that exist on a blockchain and have an figuring out code that makes every one distinctive, unattainable to repeat, and in lots of circumstances restricted -increasing their value-.
NFTs characterize actual objects, like artworks and gaming objects, and have grow to be extremely popular. In lots of circumstances, anybody can see an NFT and share it via photos, however just one individual can personal the unique one and show it via its built-in authentication.
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On this case, the SMCU metaverse intends to make use of Okay-Pop artists’ mental property to design “a metaverse-directed content material IP”. It additionally focuses on turning into a spot of creation for Okay-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 business to a brand new period of know-how, creation, and consumption.
On the potential for constructing it on the Solana Blockhain, a direct supply quoted in a Korean news portal acknowledged:
We’re not instantly collaborating with Solana, however SM Leisure is making ready to publish NFT, and we’ve got Solana in thoughts probably the most because the underlying blockchain platform.
Lee Soo-Man Envisions A Digital Future
Chief producer Soo-man Lee is instantly concerned within the challenge and shared his views in a pre-recorded video through the Solana Breakpoint 2021 in Lisbon.
He expressed that, because the curiosity within the metaverse and NFTs is seeing outstanding development, he envisions “the long run as a world of robots and celebrities along with SM.”
SM Leisure debuted “a metaverse lady group referred to as ‘aespa’” final 12 months, who made their first soar into the surroundings 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 chances of the metaverse for the music leisure business, and Lee Soo-Man shared SM Leisure is fascinated with reaching the “subsequent stage”.
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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 hundreds of prosumers from everywhere in the world can be a part of collectively to increase their creativity and create a single NFT content material, and get to personal a share of it in return. NFT contents which might be created on this means could 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 surroundings that pulls prosumers by delivering an entire 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 could possibly be exchanged like forex or via a conventional bartering system.” He stated that authorized laws can be rigorously thought-about on this state of affairs.
The producer sees the NFT division inside the metaverse as a risk to “design our future” in a means the place “a very 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.