Crypto.com, K-pop agency Fantagio enter joint NFT venture

South Korean entertainment agency Fantagio announced Wednesday a memorandum of understanding (MOU) with digital asset platform Crypto.com to pursue non-fungible token (NFT) projects, according to local reports.

See related article: Dunamu’s NFT venture with BTS’s HYBE to launch services later this year

Fast facts

• KOSDAQ-listed Fantagio manages K-pop idol groups such as ASTRO and Weki Meki, as well as South Korean actors including Cha Eun-woo and Ong Seong-woo.

• Fantagio’s announcement adds to a growing list of K-pop agencies partnering with digital asset companies for expanding businesses into the Web 3.0 space. 

• K-pop megagroup BTS’s agency HYBE is working with Dunamu, operator of Upbit exchange, to launch an NFT joint venture later this year. 

• Crypto.com operates a global digital asset exchange with around US$397 million worth of transactions in the last 24 hours at the time of publication, according to CoinMarketCap. 

• The digital asset platform has numerous partnerships with sports and entertainment properties, including the Aston Martin F1 Team, UFC, Snoop Dogg and Boy George.

See related article: K-pop logs in to the metaverse strung by idols’ vagaries, inability to tour