Animoca brands subsidiary launches video NFTs in Korea

The joint venture of Animoca Brands and South Korean entertainment company Cube Entertainment Anicube will offer free video NFTs of K-pop artists. The Anicube video NFTs will be minted on the Polygon chain and airdropped to all eligible fans’ wallets by 18 April 2022. In addition to their collectibility, owners of these NFTs will also be able to enjoy utility in the metaverse that Anicube is building.

To receive the NFTs, Anicube said fans need to connect their MetaMask wallet address to Anicube's website between 5 April 2022 and 15 April 2022 to qualify for the free airdrop. Eligible users will receive the video NFTs by 18 April.

Anicube said over the last several years South Korean pop culture content, has grown to global prominence in the “Korean wave” phenomenon. Anicube is building a music metaverse using NFTs and ecosystem tokens that are based on the intellectual property rights of Cube Ent’s globally popular K-pop music artists and actors.

Animoca Brands has been expanding its footprint in foreign countries. It began its operations in Japan in February, which has completed a raise of ¥1.1 billion (approximately US$10 million) of funding in its seed round. Animoca Brands Japan is building a platform based on blockchain technology to enable intellectual property (IP) holders in Japan to build and expand fan communities via the issue of their own NFTs and fungible tokens and participation in the broader Web3 ecosystem. Animoca Brands Japan will work with global professionals to help Japanese IP holders branch out into international markets.

In January 2022, Animoca Brands Japan closed a seed round of ¥1.1 billion (approximately US$10 million). Animoca Brands Japan will use the new capital to expand its business in Japan with the goal to enhance the reach of Japanese IP globally.

Animoca Brands Japan is based in Tokyo's Minato Ward and led by representative director Motoki Tani. Before being named representative director for Animoca Brands Japan, Motoki was managing director and senior portfolio manager of Millennium Capital Management, where he was responsible for Japan Macro Strategy Investment. Prior to joining Millennium Capital Management, Motoki headed Yen Bond Trading at JP Morgan.

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