K-POP Company owners are joining the train hype of Cryptocurrency

[fcmatt]

If SM develops a cryptocurrency, will its enthusiasm be as big as KPOP music? In my opinion not necessarily, because:

- Although the number of KPOP fans around the world reaches 89 million people, not all KPOP fans are people who understand cryptocurrency.
- When SM launches a cryptocurrency, the market will see and review its vision and mission, and whether the market will respond according to SM's expectations.

as a k-pop fan, i think there are will be many fans to joins crypto as long there is a benefit they will get to join or use the coins that SM offering.
maybe SM Ent. will be offering a benefit like every purchase using their coins will be have a chance to join fansign/fan meeting

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[eaLiTy]

Due to the shareholder revolt and a falling stock price of the company they wanted to create this, in order for the Artists and the company itself be able to directly interact with the fans and be more engaged in the entertainment ecosystem.
What are your thoughts? Do you think this will have a "major" impact?

Since the share holders are revolting against them because their stock is not performing well, they have come up with a new gimmick thinking that it will give some stability, SM Entertainment are hoping to have some major impact on their announcement and only time will tell whether these sort of gimmick could help them establish a better market share.
If their aim is to have direct interaction with fans then social media is the platform they must be active rather than creating a token .

[boltz]

The South Korea markets,infrastructure,economy is booming for real and no wonder why K-Pop Culture is getting involved into blockchain. K-Pop simply reshaped the music industry and their fans are all over the world like even I got caught into songs from Black Pink ( even if my girl doesn't approve this haha ).

Also if this is the case and if they ever make their own currencies I would invest and the last coin I have invested in ICO was waves 3 years ago because lets be honest , K-Pop are at the beginning of the road. If Hyundai did their own currency why would K-Pop not joining into this cryptocurrency train ? Asians were always one step ahead from Europe in my opinion.

[Deborah Christine]

SM Entertainment, one of the top entertainment company in Sout Korea is planning on making its own blockchain network.

Due to the shareholder revolt and a falling stock price of the company they wanted to create this, in order for the Artists and the company itself be able to directly interact with the fans and be more engaged in the entertainment ecosystem.

What are your thoughts? Do you think this will have a "major" impact?

For more info, refer to these articles: Korea’s Biggest Entertainment Company to Launch Its Own Cryptocurrency and K-Pop Music Giant SM Entertainment Is Planning Its Own Cryptocurrency

I see right now there are many celebrities who want to make their coins and some even make their own coins.
For example Manny Pacquiao. The coin has been released but has no impact.

So I don't think news from SM entertainment will have a major impact.
As I know, SM Entertainment is not the first company to have proposed the use of blockchain technology in the K-pop industry.

[shoreno]

~ snip ....

I see right now there are many celebrities who want to make their coins and some even make their own coins.
For example Manny Pacquiao. The coin has been released but has no impact.

So I don't think news from SM entertainment will have a major impact.
As I know, SM Entertainment is not the first company to have proposed the use of blockchain technology in the K-pop industry.

depends on the coin  . thier coins have no impact because it might be that thier coins are still new and not yet been promoted properly or maybe thier coins  are simply not just attractive because there is no useful element on it . still , kpop industry is pretty huge and pretty popular .

 now imagine if crypto will be introduced by them i think cryptos can caught the attention of thier fans no matter how bad or good thier project are   . the hype in kpop is bigger than the hype that a regular celebrity keep that in mind  .

[jake zyrus]

This could really bring a positive impact on cryptocurrency. As far as I know, SM Entertainment is one of the big 3 leading agencies in the KPOP industry. And is also know for great way of handling the business. We all know that it's the mainstream and the hype of KPOP are receiving now is huge, and there are a lot of fans around the world. Since it aims to connect the fans and the idol, fans probably would adopt with this, once it is adopted by the agency. I know a lot of fans who buy or engage themselves with what their idols are promoting so it would be easy to attract fans around the world about crypto through this. This could really a big help in increasing the adopting of crypto. 

[DaftAjax]

I see right now there are many celebrities who want to make their coins and some even make their own coins.
For example Manny Pacquiao. The coin has been released but has no impact.

So I don't think news from SM entertainment will have a major impact.
As I know, SM Entertainment is not the first company to have proposed the use of blockchain technology in the K-pop industry.

Yes, Manny Pacquiao's crypto has no major impact, even if he's a worldwide celebrity. Because the problem is that the fanbase is not really there.
I did a little digging and apparently SM Entertainment is the very first one to take the bullet.

~snip -...like even I got caught into songs from Black Pink.

Also if this is the case and if they ever make their own currencies I would invest and the last coin I have invested in ICO was waves 3 years ago because lets be honest , K-Pop are at the beginning of the road. Asians were always one step ahead from Europe in my opinion.

Well, same here I like BlackPink too.
I probably look into it too. I'll be monitoring the progress they're making. So are you saying that Asians tend to take risks first then EU follows?

1) The problem I see here is that these celebrities don't have a clue about what's going on here...

2) We have seen quite a few celebrities enter the crypto sphere already, and they haven't contributed to anything but their own wallet. People need to stop following celebrities like blind sheeps. They're not here for you.

3) If celebrities really cared about the fundamentals of crypto, they would finance development, set up businesses utilizing crypto, etc. None of that is the case so it makes more sense to warn people against them.

1) Well, I think the problem is you misunderstood everything.
2) It's clearly stated that, it's the K-POP company owners.... The decision is by the company they belonged to, SM Enterntainment, and not the K-POP groups/celebreties themselves. If we're talking about the company here, they sure know what they're doing. There are a lot of planning and preparations on their side before its even been known to public. The K-POP groups are probably going to be the intermediaries to this "project". And please, let's not talk about the Entertainment industry, that's a very big network. And the possibilities of other platforms like music streaming platforms, or even concert tickets and such.
3) Seriously! That's the plan!

K-Pop is a massive industry in itself, which surely has its own ordeals. While this doesn't come in as a major surprise, it feels a bit late if we have a look at all the other parallel industries coming into the blockchain/crypto buzz.

I think they come in just in time. Considering back then, K-POP Fanbase is mostly East, specifically Asia. But now K-POP is a worldwide phenomenon, the fanbase is crazy large. So them releasing this "project" now(?) is better rather than earlier.

[target]

Well it seems this is an example of a good use case in the entertainment industry and once successfully implemented and steered in the right way, it could pave the way to more crypto exposure and adoption among South Koreans since they are well known to be enthusiastic and die hard followers in the entertainment industry thus the explosion of K-Pop generation.

K-Pop fans are everywhere and as many have said, they have large following already.
This is a good way to introduce crypto to younger generation as well.
As they can easily adopt to this kind of technology, it will help in the crypto adoption that we are aiming for.
I hope they have long-term plans for this kind of initiatives and not just because they want to join the bandwagon.

Kpop celebs may be popular and can promote their blockchain project but it may not really help the industry to recover the loss. The volatility nature of crypto will only dip them more to the murky waters. The popularity though can make information of cryptocurrency be widely spread, Kpop are appreciated not just in Asia so the channel must be of help.

[abel1337]

Well it seems this is an example of a good use case in the entertainment industry and once successfully implemented and steered in the right way, it could pave the way to more crypto exposure and adoption among South Koreans since they are well known to be enthusiastic and die hard followers in the entertainment industry thus the explosion of K-Pop generation.

K-Pop fans are everywhere and as many have said, they have large following already.
This is a good way to introduce crypto to younger generation as well.
As they can easily adopt to this kind of technology, it will help in the crypto adoption that we are aiming for.
I hope they have long-term plans for this kind of initiatives and not just because they want to join the bandwagon.

Kpop celebs may be popular and can promote their blockchain project but it may not really help the industry to recover the loss. The volatility nature of crypto will only dip them more to the murky waters. The popularity though can make information of cryptocurrency be widely spread, Kpop are appreciated not just in Asia so the channel must be of help.

You can't say that they won't help the industry to recover. They might be an eye-opener to others who aren't believing in cryptocurrency especially that they have a large crowd following each of their moves. Believe in the power of crowd. They might be entangled in a more larger company that help cryptocurrency be known throughout the world.

[carlfebz2]

Well it seems this is an example of a good use case in the entertainment industry and once successfully implemented and steered in the right way, it could pave the way to more crypto exposure and adoption among South Koreans since they are well known to be enthusiastic and die hard followers in the entertainment industry thus the explosion of K-Pop generation.

K-Pop fans are everywhere and as many have said, they have large following already.
This is a good way to introduce crypto to younger generation as well.
As they can easily adopt to this kind of technology, it will help in the crypto adoption that we are aiming for.
I hope they have long-term plans for this kind of initiatives and not just because they want to join the bandwagon.

Kpop celebs may be popular and can promote their blockchain project but it may not really help the industry to recover the loss. The volatility nature of crypto will only dip them more to the murky waters. The popularity though can make information of cryptocurrency be widely spread, Kpop are appreciated not just in Asia so the channel must be of help.

You can't say that they won't help the industry to recover. They might be an eye-opener to others who aren't believing in cryptocurrency especially that they have a large crowd following each of their moves. Believe in the power of crowd. They might be entangled in a more larger company that help cryptocurrency be known throughout the world.

Still on 50-50 chance yet we know that it might rather be a miss or hit depending on the masses if they do able to see that cryptocurrency is worthy to be followed.
Its still a good exposure though for crypto market since we know on how big or how many is the kpop lovers globally but it doesnt mean that all of things that they would
plan or tend to do would succeed.It will always matter if the masses will embrace or just simply ignore  it and just focus on their popularity.

[Dread Pirate Roberts]

SM Entertainment, one of the top entertainment company in Sout Korea is planning on making its own blockchain network.
Due to the shareholder revolt and a falling stock price of the company they wanted to create this, in order for the Artists and the company itself be able to directly interact with the fans and be more engaged in the entertainment ecosystem.
What are your thoughts? Do you think this will have a "major" impact?

every project is free to give the features they offer to make a plus point for their project. but I myself judge here for the ease of processing their finances I think is good and simple. but if the aim is to make it easier for other people to make transactions with them I don't think that's because. K-pop is mostly for teenager and there is no doubt that teenagers at this time are not many who understand and really understand what crypto is. but the features they offer themselves are a very good idea

[DaftAjax]

every project is free to give the features they offer to make a plus point for their project. but I myself judge here for the ease of processing their finances I think is good and simple. but if the aim is to make it easier for other people to make transactions with them I don't think that's because. K-pop is mostly for teenager and there is no doubt that teenagers at this time are not many who understand and really understand what crypto is. but the features they offer themselves are a very good idea

Yes K-POP fandom is mostly a bunch of teenagers. And their exposure/understanding of cryptocurrency isn't going to be as in-depth as we could but my guess is they will try to anyways. And the other I'm curious about is that just because of K-POP has a very large fandom that other businesses would try to make partnership to the companies behind it and further developed their blockchain. I mean, to be partnered with a worldwide known reputation company by supporting their project is going to be a lot more profitable than making their own blockchain themselves.

[jmigdlc99]

SM Entertainment, one of the top entertainment company in Sout Korea is planning on making its own blockchain network.

Due to the shareholder revolt and a falling stock price of the company they wanted to create this, in order for the Artists and the company itself be able to directly interact with the fans and be more engaged in the entertainment ecosystem.

What are your thoughts? Do you think this will have a "major" impact?

For more info, refer to these articles: Korea’s Biggest Entertainment Company to Launch Its Own Cryptocurrency and K-Pop Music Giant SM Entertainment Is Planning Its Own Cryptocurrency

This is genius. These KPOP starts have a broad and FANATICAL following. I know some people who would buy and do anything for tickets to sold-out concerts by these kpop stars.

This is a really good move on the part of SM entertainment and i wouldn't be surprised if it becomes an all out success for them. The only thing they need to do is to make the user interface user friendly and surely it will be a hit.

[Fredomago]

SM Entertainment, one of the top entertainment company in Sout Korea is planning on making its own blockchain network.
Due to the shareholder revolt and a falling stock price of the company they wanted to create this, in order for the Artists and the company itself be able to directly interact with the fans and be more engaged in the entertainment ecosystem.
What are your thoughts? Do you think this will have a "major" impact?

every project is free to give the features they offer to make a plus point for their project. but I myself judge here for the ease of processing their finances I think is good and simple. but if the aim is to make it easier for other people to make transactions with them I don't think that's because. K-pop is mostly for teenager and there is no doubt that teenagers at this time are not many who understand and really understand what crypto is. but the features they offer themselves are a very good idea

Getting your point, mate. K-POP fans  if blindly idolizing the artist will simply follow what their idols will advise them. If the entertainment company will use this advertising venue to integrate their system to blockchain,  the influence of those stars will lead newcomers to adopt crypto. Though it will still depend if how far the fans will embrace the system and how they will appreciate the system.
Not a bad idea, though. It will be a good spark to attract more people especially those young generations, preparing them for the best future to come.

[sana54210]

various businesses can be integrated with crypto currencies.  targeting entertainment industry as a cryptocurrency ecosystem is a good idea.  but whether this idea will continue because the issue that is developing,  South Korea will fight cryptocurrency. does this busines include the cryptocurrency type to be fought.

I don’t know why we are all giving south Korea too much of power to be thinking they can have influence over cryptocurrency when they are not the world leader, in terms of war, they can make that boast but when it comes to technology, their limit does not go beyond their own space as they have no business with what other countries do with their own currency.

Even if they will fight cryptocurrency, they can only fight it in their country which the fight will be against those who has been using it in their country. Many big entertainment companies will come into the cryptocurrency space successfully and there is nothing that I think south Korea can do about that. The crypto space is growing bigger and very soon, it will grow beyond control.

[agustina2]

If SM develops a cryptocurrency, will its enthusiasm be as big as KPOP music? In my opinion not necessarily, because:

- Although the number of KPOP fans around the world reaches 89 million people, not all KPOP fans are people who understand cryptocurrency.
- When SM launches a cryptocurrency, the market will see and review its vision and mission, and whether the market will respond according to SM's expectations.

as a k-pop fan, i think there are will be many fans to joins crypto as long there is a benefit they will get to join or use the coins that SM offering.
maybe SM Ent. will be offering a benefit like every purchase using their coins will be have a chance to join fansign/fan meeting

KPop fans are surely willing to try it once it has been launched just to satisfy their fangirling or fanboying needs. You know, whatever it takes.

SM Entertainment is confident about this since almost all their idol groups, especially EXO, is also way too popular worldwide. So even if the fans don't understand what cryptocurrency is at first since most of the number of fans are too young or still a student, there's no doubt that they will still be able to adopt it.

[Cnut237]

I'm not sure how much impact it will have, as crypto is already hugely popular in South Korea.

I remember this stat that over 7% of South Koreans (of those surveyed) own some crypto: https://cointelegraph.com/news/south-koreans-invest-an-average-6-000-in-cryptocurrency-says-new-survey

But even if it doesn't have much effect, whatever effect it does have will surely be positive and is another welcome step on the long and bumpy road towards the integration of crypto into mainstream society.

[NathanJB]

In terms of major impact, there will be none. There could be an impact but it will become short-lived if there are no major complementary developments that go with it. It is not sufficient itself to be the lone force to cause a major impact. This is not the first time that people from the entertainment industry have started to voice out or express their interest or support to cryptocurrency. In fact, this is not the first time that a certain crypto project is made with the objective of direct interaction with the fans. And so far, nothing has gone far with it.

[hahahafr]

This is surely good news to the crypto community. All that we seek is the adoption of cryptocurrencies and entertainment is one of the big industries in the world today. This would go a long way to expose the use case of blockchain technology to the world.

[jostorres]

We are forgetting that they are also looking at blockchain more directly than just cryptocurrency. It means they are trying to build a platform where the artists could have more direct connections with the fans. Sure, there could be some cryptocurrency involved and fans who buy those cryptocurrency could basically support their favorites and all that but at the same time blockchain could connect them a lot faster and better depending on how they use it.

So, this is more about utilizing the technology better to make more profits than just adding some ICO crypto to make more money and get away from financial troubles, that would be a short term solution where they will end up where they are right now eventually, but if they utilize the blockchain better they could have a long term profit that would save them.