HYBE held their company briefing 2021 Briefing With The Group by way of dwell broadcast for followers to attend. It included a number of updates in regards to the firm’s future plans, involving present teams reminiscent of BTS, TXT, and ENHYPEN, in addition to a future boy group and woman group.
Whereas followers have been enthusiastic about a lot of the updates, notably these involving their favourite teams’ new Naver Webtoons, some information left followers involved. And, we’re not referring to the likelihood that the teams would possibly uncover fanfictions on Wattpad.
Throughout the dwell broadcast, Bang Si Hyuk (often known as Bang PD and Hitman Bang) introduced that HYBE could be moving into blockchain know-how. He shared that HYBE is captivated with innovating and growing an excellent larger fan expertise.
If all we’re making an attempt to do is recreate previous experiences on-line, we are able to’t name it innovation. The ‘new and progressive fan expertise’ that may unfold in HYBE will embrace future experiences that followers have but to expertise however which they want most of all. Simply as the discharge of WEVERSE has enabled real-time communication and connection between artists and followers, we hope to as soon as once more create a synergy between the music trade and new applied sciences in order that followers can expertise the longer term firsthand.
— Bang Si Hyuk
He sees a chance within the sizzling matter of cryptocurrency. So, HYBE is partnering with an organization whose focus is on progressive know-how.
After a deep contemplation, we have now discovered a accomplice firm that helps HYBE’s imaginative and prescient and the values that HYBE cherishes, and thru a three way partnership established underneath a strategic partnership will create companies that may quickly turn out to be actuality.
— Bang Si Hyuk
HYBE’s new accomplice, Tune Chi Hyung, Chairman of Dunamu Board of Administrators, launched himself as an “entrepreneur who desires of commercial innovation, identical to Chairman Bang Si Hyuk.” He emphasised a shared imaginative and prescient because the HYBE’s occasion theme was “boundless.” He claimed it was a phrase that “aptly represents the values that the Dunamu has been pursuing as properly.”
For these unfamiliar with Dunamu, the chairman defined the corporate’s mission. They concentrate on uniting finance with know-how.
We’re a fintech firm that pursues innovation by means of the assembly of finance and know-how. Our firm identify ‘Dunamu’ additionally means the adjoining of two huge tree trunks: finance and know-how. I wished to speak about our firm for these of you who will not be aware of the identify.
— Tune Chi Hyung
He gave examples of a few of their present operations, many specializing in blockchain know-how and shares.
First, we function ‘Upbit,’ a digital asset change primarily based on blockchain know-how. With the objective of making an ‘trade customary’ for blockchain and fintech, we additionally function the Digital Asset Normal Index service which permits customers to test the general move of the digital asset market, Securities Plus, which helps customers to test inventory info and hyperlink trades in whatever the brokerage agency, and Securities Plus Unlisted, which innovatively improves unlisted inventory buying and selling.
— Tune Chi Hyung
So, what precisely do a music firm and a digital finance firm should do with one another? Bang Si Huk defined that they plan to accomplice collectively to develop an NFT enterprise underneath a brand new three way partnership. It’s going to permit artists’ IP-based content material to turn out to be digital belongings for followers.
The recent matter of this yr’s fintech trade is unquestionably NFTs, or non-fungible tokens. I feel the phrase ‘irreplaceable’ was utilized in one of many BTS’s songs. Irreplaceable, which means one thing that’s distinctive and certainly one of a sort.
— Tune Chi Hyung
Tune Chi Hyung defined intimately about NFT. Mainly, it can remove any risk of “counterfeit merchandise.”
You possibly can consider an NFT as an irreplaceable digital asset that may be safely and reliably verified in order that anybody can belief that there’s just one on this planet. Such digital belongings are created when particular digital content material or merchandise are given a novel worth by means of blockchain know-how. This worth turns into actually manifest when mixed with areas the place intangible belongings are essential, such because the video games, arts, and leisure industries, that are delivered to life by means of inventive actions. It’s because it’s a know-how that eliminates the counterfeit merchandise which were prevalent prior to now, leaving solely the genuine, and offers authentic advantages to the one individuals who have created distinctive worth and the shoppers who’ve found and have given their help to that worth.
— Tune Chi Hyung
Although followers are hesitant to welcome this new “product,” Bang Si Hyuk and Tune Chi Hyung consider they’re prepared for it.
We’re already seeing concrete outcomes, particularly within the arts trade, and I consider that the fandom tradition and trade itself are maturing to the extent the place HYBE’s artist IP-based content material and merchandise that the HYBE showcases at the moment are at a ample stage to be reworked into digital belongings by means of these applied sciences.
— Tune Chi Hyung
Bang Si Hyuk then defined their plan for NFTs even easier. He introduced out one of the crucial recognizable items of merchandise for followers aside from albums: photocards.
To make it simpler so that you can perceive, I’ve introduced one thing that has a particular which means to our followers: the picture playing cards that followers accumulate. A few of it’s possible you’ll be aware of them, and a few of it’s possible you’ll be stunned by their existence. Along with their appearances on stage and in music movies, these picture playing cards are a form of behind-the-scenes pictures that seize the assorted charms and moments of the artists.
— Bang Si Hyuk
He launched the potential for digital photocards. Will probably be way more than only a cute behind-the-scenes selfie. As an alternative, it’ll give an additional interactive expertise as it could embrace shifting pictures and audio.
Many followers discover methods to maintain for a very long time, and since they’re launched in restricted portions, they’re generally exchanged amongst followers. We’re working with Dunamu to create a strategy to increase the fan expertise extra diversely and securely, reminiscent of digitally authenticating the individuality of those picture playing cards and making them everlasting, but in addition permitting them to be collected, exchanged, and displayed in a worldwide fan neighborhood platform like WEVERSE. As an alternative of a single body picture, it may be become a digital picture card with shifting pictures and sound.
— Bang Si Hyuk
In some methods, the idea sounds acquainted. For years, QR codes have been included with the acquisition of BTS albums, giving ARMY an extra “freebie.” For instance, after scanning the code, ARMY would obtain a brief video of a member saying, “Thanks.”
The Dunamu chairman added, “Precisely. As you talked about, we are able to take into consideration making a extra synesthetic expertise, like offering pictures, music, or the voice of the artist, whenever you click on on the picture card.” With this upgraded photocard, followers will nonetheless be capable to commerce photocards. Nonetheless, it can remove any prospects of being tricked into buying pretend variations, an issue that may usually happen with on-line gross sales and buying and selling.
For instance, I feel we are able to have followers come collectively and change playing cards with one another in a digital area like a web based neighborhood, reminiscent of WEVERSE you simply talked about. We’ll assume arduous and focus on growing an entire service in order that convergence of Dunamu’s fintech know-how and HYBE can deliver one other prolonged fan expertise of worth sharing and worth change for followers world wide.
— Tune Chi Hyung
From the briefing, it appears as if Bang Si Hyuk imagines a transition from bodily to digital for photocards. He additionally hinted at extra digital fan experiences for the longer term.
Including on to that thought, it looks like it gained’t be lengthy earlier than we are able to use digital picture playing cards inside the platform to create a digital area with our avatars, and followers can present such an area to one another and to the artists. To be able to make this a actuality, we’ll deliver collectively the capabilities each firms have constructed up up to now to introduce a brand new and thrilling innovation to the worldwide music and fintech industries.
— Bang Si Hyuk
Initially, the digital options to bodily albums and photocards appear to be they could really be higher for the atmosphere because the bodily merchandise can include lasting impacts on our planet. Sadly, this different talked about is just not higher.
For these nonetheless confused about what precisely an NFT is, allow us to clarify some extra. NFTs (non-fungible tokens) are a kind of cryptocurrency. In response to Wikipedia‘s definition, cryptocurrency is a “assortment of binary knowledge which is designed to work as a medium of change whereby particular person coin possession data are saved in a ledger which is a computerized database utilizing robust cryptography to safe transaction data, to regulate the creation of further cash, and to confirm the switch of coin possession.”
So, an NFT generally is a distinctive digital merchandise in that it could actually are available in many kinds, knowledge, music, textual content, graphic artwork, pixels, and so forth., primarily something that may be “created” and shared on the web. Now, they’re being capitalized in that creators can authenticate and “mint” them.
Afterward, they’re then bought on-line, often for a excessive sum of cash. The client then will get to acquire this one-of-a-kind collectible content material.
Positive, you may copy/paste, obtain, screenshot, and technically have the identical content material as the unique. On this case of acquiring a NFT, although, you’ll personal the 100% unique and genuine content material slightly than a duplicate.
certainly one of these popping up in your display screen https://t.co/KhVuaVQTYP pic.twitter.com/SeACxV2ARy
— mon⁷ (@knjgIoss) November 4, 2021
With being minted, the NFTs then comprise their distinctive identification codes. Consider it like fingerprints or DNA that tells us other than somebody even when they could imitate our outward appearances. There’s nonetheless the one one you.
When NFTs are bought, it’s not underneath the possession of the unique creator. You primarily then have “bragging rights,” and it could actually enhance in worth over time.
Whereas, to many, it sounds cool and “progressive,” it does include penalties, that of which has a whole lot of followers involved slightly than excited as Bang Si Hyuk might have anticipated.
For instance, French artist Joanie Lemercier had no concept his NFT launch would lead to 8.7 megawatts of power getting used for its public sale. That is mainly how a lot power a graphics artwork studio creates however in like two complete years… This artist did it in solely ten seconds.
Particularly when you think about fandoms and the way passionate they turn out to be with new merch releases or collectibles, that is regarding. Nonetheless, NFT is such a giant deal at this level. So, in fact, HYBE is just not the one one who has gotten concerned with cryptocurrency.
A.C.E was the primary Okay-Pop group to tokenize their wares as NFTs, releasing a group of digital collectibles for followers again in April 2021. Company Asian Agent defended their alternative as followers criticized their involvement.
An open letter to CHOICE: pic.twitter.com/vNnj7NfzBM
— ASIAN AGENT (@asianagent) April 28, 2021
Regardless of unique good intentions of innovation and even donating a portion of gross sales to Asian Ladies Alliance, supporting the AAPI neighborhood throughout an increase of hate crimes, followers couldn’t ignore the cons.
Contemplating the quantity of carbon footprint, it’s unignorable. In response to QUARTZ, “Over its lifecycle, the common NFT will accrue a surprising footprint of 211 kg of CO2, equal to driving 513 mi in a typical US gasoline-powered automobile.”
Now, with HYBE’s introduction of NFTs, followers of BTS, TXT, and ENHYPEN are going through the identical dilemma. Many have voiced their issues on social media.
bts being representatives for the battle in opposition to local weather change and championing sustainability only for hybe to show round and enter the nft market how does any of that make sense.
— R (@805online) November 4, 2021
hybe gon want to appreciate this complete nft factor ain’t cute particularly when bts simply spoke abt local weather change in nyc actually a month and a half in the past… are they dumb…. pic.twitter.com/amJNdV2kRl
— Jordan⁷ shota protector (@namjoonsbest1e) November 4, 2021
ARMYs have resurfaced a Tumblr thread that explains the problematics of NFTs additional with an ideal analogy…
So, clearly, NFTs will not be simply progressive. They’re really dangerous for the atmosphere, so in actuality, they don’t seem to be progressive. Somewhat they may really injury the longer term, which utterly goes in opposition to the concept of innovation.
if hybe is rlly going to undergo and do that, i feel it’s actually good concept to not give in on this one. they’re horrible horrible for the atmosphere. there’s loads of different methods to help 875. don’t do it by way of NFTs. please.
— lizi 🧸 store open! (@lizeok) November 4, 2021
ARMY has additionally introduced up the truth that it appears inconsistent with HYBE’s message. Their artists, particularly BTS, commonly converse on world change, environmental impression, amongst social points.
In September, BTS spoke about many essential matters on the 76th United Nations Basic Meeting (UNGA) as particular presidential envoys to President Moon Jae In.
J-Hope touched on two related but controversial world points proper now, reminiscent of vaccinations for COVID-19 and local weather change.
Not solely that, however they even wore fits from sustainable style model RE;CODE on the occasion. The model revealed, “This (BTS’s) go well with design goals to help sustainable style, and it’s notably designed for BTS’ speech at United Nations.”
BTS have constantly communicated their concern for world points, reminiscent of local weather change, even of their model sponsorship offers. In 2019, they turned international ambassadors for ABB FIA System E Championship, a race utilizing solely electrical automobiles.
Likewise, Hyundai Motor Group selected to collaborate with BTS as a result of a standard eco-friendly imaginative and prescient. Simply this yr, the 2 celebrated Earth Day by elevating consciousness for sustainable dwelling.
The BTS members’ private lives replicate their dedication to eco-friendly dwelling too. Chief RM doesn’t use disposable plastic utensils even when ordering meals. In addition they are captivated with recycling.
Plant-based meals, second-hand garments; there are lots of methods to guard our future. #IONIQ is certainly one of them.
What are you doing to alter the world? Inform us beneath in your likelihood to #win a #HyundaixBTS prize! Contest closes Dec 3. T&Cs: https://t.co/GXuL0jPAVU#BTS @bts_twt pic.twitter.com/RukJrh6Dcm
— Hyundai Worldwide (@Hyundai_Global) November 26, 2020
Whereas they’ve are ambassadors for automobile manufacturers although as talked about electrical, many members select to bicycle slightly than take a automobile, lowering carbon emissions. Simply prior to now couple of days, each RM and Jin shared with ARMY that they have been biking residence after getting off work.
Driving a automobile at 100 mi really releases 20% of the emissions that the common NFT sale releases.
yeah im toe-geunning.. 😪 pic.twitter.com/y1LFXT3sGA
— 방탄소년단 (@BTS_twt) November 2, 2021
It looks like it may be the case that the members will not be conscious of every part their firm is concerned in with its progress. An ARMY posted to Weverse, telling BTS to depart their firm following the information of HYBE’s involvement with NFTs. Jin replied, clearly stunned by the suggestion.
OP: guys let’s go away the corporate
Jin: heok (oh?) why
ARMY hopes HYBE will revaluate its plans in order that the corporate and its’ artists’ messages can be constant.
Learn extra beneath:
HYBE Publicizes New Artist Webtoons, A New BTS Sport, NFTs, A International Woman Group, And New Japanese Boy Group
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