South Korean artist management firm, Hybe Corp is looking to enter the non-fungible token (NFT) sector through SpaceStage, an NFT platform it is currently developing.

Having established itself as one of the top artists management firms in South Korea, Hybe has begun branching out into the blockchain and crypto space with its recent investments.

Why is Hybe Entering the NFT Space?

Hybe recognizes the potential of NFTs as a way to further monetize creative assets and generate value for its artists. The NFTs could allow music, art, and digital content created by its artists to be sold directly to fans. It can also enable its artists to develop deeper relationships with fans and gain the benefits of direct profits.

What is the Plan?

Hybe is aiming to launch SpaceStage in mid-2021 in its quest to make NFTs more accessible to both creators and fans.

The NFT platform is expected to feature a holistic system with NFT-based rewards systems, content curation/creation/distribution, fan communities and more.

Hybe is also said to be partnering up with numerous service providers and established platforms like Kloud and WeChat to offer services for artists using SpaceStage.

What are the Benefits?

Hybe boasts of a global network of artists and managers who have the potential to generate millions of dollars in NFT sales. This could translate to increased profits for its artists and open up new opportunities for the company.

In addition, the company believes that its experience in the music and entertainment industry has equipped it with the right expertise to make NFTs an accessible and viable way to promote its artists and increase profits.

Hybe is all set to make its mark in the NFT space and with the current momentum, it looks like an exciting time ahead.

Key Points:

  • Hybe is a South Korean artist management firm that is looking to enter the non-fungible token (NFT) space.
  • It seeks to make NFTs more accessible to both creators and fans and features a holistic system with NFT-based rewards systems, content curation/creation/distribution, fan communities and more.
  • It has a global network of artists and managers that have the potential to generate millions of dollars in NFT sales.