coincodex.com
Key takeaways:
- Modhaus has completed the initial stages of the NFT voting process that will define which artists will earn a spot in the new K-Pop group called tripleS
- Out of 32 artists that will ultimately be selected, the community has so far selected 8 members
- During the voting event, called Gravity, 8,000 tripleS NFT owners cast over 4,400 votes
NFT holders have selected 8 tripleS members so far, with 24 more to be voted on
Modhaus, a Korean Pop culture-focused Web3 metaverse project, has successfully completed the first stage of the voting process that will decide which artists will represent tripleS, the first K-Pop group composed entirely by fans.
While voting on K-Pop group members is not uncommon, this is the first time that the voting is done via non-fungible tokens (NFTs). tripleS NFTs enable their holders to participate in the voting process, called Gravity, which will ultimately select 32 K-Pop group members.
During the first Gravity event that was held between September 21 and September 25, more than 8,000 NFT owners cast 4,417 votes, picking 8 group members in the process. In total, the event generated 4,728 unique transactions on Polygon. It is worth noting that each tripleS NFT mints one COMO, a voting token that is used exclusively for Gravity events.
So far, the composition of tripleS’ two sub-units, Acid Angel from Asia (AAA) and +(KR)ystal Eyes (KR), has been decided via NFT governance. While KR follows a more traditional K-Pop approach, AAA represents a new take on the popular genre, centered around a completely new and unique dance style.
Jaden Jeong, the founder and CEO of Modhaus and a prominent figure in the K-Pop community, has this to say about the success of NFT voting:
“The first Gravity was a smashing success, proving that fans are really curious to be directly involved in the fate of a group,” said Jaden Jeong. “Korean entertainment is really rich and authentic, and by revolutionizing how fans engage with it, we can really create something interesting and unique.”
Modhaus is on a mission to promote K-Entertainment around the globe, leveraging the popularity of hits such as Squid Game and BTS to appeal to mainstream Western audiences. In addition, the Web3 startup wants to do away with the current top-down K-Pop structure by instead putting the decision-making process into the hands of the broader K-Entertainment community.