South Korean entertainment company subsidiary RBW (Rainbowbridge World) Japan is expected to launch a non-fungible token (NFT) through Hong Kong exchange Xeno.
RBW represents Mamamoo's leading K-Pop group, including Vromance and Oneus.
With the introduction of NFT in this industry, it is easier for K-Pop enthusiasts to purchase digital products related to their favorite groups using blockchain technology including digital tickets, membership tokens, digital content rights, and ‘3D rendering’ of K-Pop idols.
Xeno also announced that RBW Japan has received exclusive NFT exchange rights to launch and list digital products based on their NFT.
RBW Japan CEO Jae-Woong Wang explained that the introduction of NFT also opens up opportunities for artists and creative content creators to offer their latest and exciting products to their fans.
The decision taken as a result of the COVID-19 pandemic has caused many face-to-face events to be canceled and NFT is seen as the best solution.
However, the launch date of the NFT has yet to be announced.
Most NFT exchanges are built on the Ethereum blockchain, in contrast to the Xeno developed on the Polkadot network.
Polkadot is known for its unique parachain features including improved scale, and full chain integration and inter-operation.
