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

[Eclipse26]

Can someone enlighten me how can the artists directly interact with their fans by creating their own cryptoccurency? We all know that korean wave have been showing a great impact towards people around the world. And there are a lot of fans that can really be a good thing for crypto's wide adoption. And for the fact that SM is a big company in Korea, having super junior, girls generation, exo and etc who are really famous even internationally.

But what I am thinking is if it's all about interaction, it's not a good option if the artists themselves don't even know what crypto is. SM is somehow risking their artist engaging them on something they don't know. SM is known for only thinking about money and profits. Or are they just using their artists to earn money from their fans?The management can handle it but I don't think it's good to involve their artist who are not willing to learn things in crypto.

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[Moiyah]

It has a big impact in the industry not only for entertainment. It is not an outrageous matter that KPop music will also enter and involve the crypto world because a country like South Korea already recognized for cryptocurrency investments and exchanges. It adds up additional income to the blockchains and it has enormous impact for accepting and divulging crypto to the other people not only in Korea but also in other countries most especially in those countries that crypto is not yet acceptable and not yet legalized.

[Anegg]

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 think that it will have a minor impact on cryptocurrency as a whole mainly due to the fact that it will only apply to the entertainers and their fans, although, with the large viewerbase that K-POP does have it may very well prove me wrong and absolutely take off. Additionally, most of the people who enjoy K-POP are from the younger generation and therefore are more digitally savvy, meaning that this cryptocurrency does have the ability to take off within that K-POP ecosystem, especially due to the fact that these fans are absolutely die-hard for their idols.

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.

That may be true, however, this is most likely older men and women who are investing their income. I highly doubt that those from the younger generation have much care for their future and therefore most likely haven't invested into cryptocurrency. This could be a turning point for that, especially in South Korea.

[haidil]

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

of course, I suppose with SM Entertainment taking steps to create its very own blockchain network, it will have a massive have an impact on on the crypto world, due to the fact we comprehend that kpop music is extensively well-known during the world, of course this has a big have an impact on and will deliver higher crypto, more artists and fans KPOP can be directly involved.

[judeafante]

Are K- pop  that popular that they are confident that it will generate support, I don't even know if all the K pop fans are into Cryptocurrency, they should instead adopt a Crypto currency first and observe it's success before they launch their own,
and besides how many K-pop superstars they have in their stable because I'm not a K - pop fans.

[beerlover]

Blockchain as a platform to connect stars and fans could be huge, I don't know how it could be done, I don't know what the platform will be like but looking stuff like twitch where people literally give money to streamers to be on their screens, I am pretty sure we could have a system where fans pay celebs to get their attention. Now, if you do that via crypto that is even better, there is a connection and you can see how has sent the most crypto and the richest fan out there.

I personally do twitch myself and know my biggest supporters by heart, so of course every fan would want to be like that for their favorite celeb. How they could do it is another question, if they can do it, it will be success but they need to be careful with the system or it would be another money spent on something that failed.

[hatshepsut93]

Blockchain as a platform to connect stars and fans could be huge, I don't know how it could be done, I don't know what the platform will be like but looking stuff like twitch where people literally give money to streamers to be on their screens, I am pretty sure we could have a system where fans pay celebs to get their attention. Now, if you do that via crypto that is even better, there is a connection and you can see how has sent the most crypto and the richest fan out there.

This won't work because of the network effect - content creators want to put their content on the platform with the highest amount of users to maximize their audience and their profit. So, a new platform will only have small beginner content-creators at first, and it will stay that way if amount of consumers will stay low. Next, I seriously doubt that an average twitch viewer or k-pop fan knows or cares about cryptocurrency. If you make this platform crypto-exclusive, you'll seriously limit your potential users.

[Oilacris]

I think this will have no impact anything for the world of Crypto, they are only carrying out their own mission, specifically for their own fans. I feel that their tokens will not long survive in the market, this is only a play token, for jokes.

Same view for this one and we have seen that there were lots of projects do tagged up anything just to make some shitcoin which isn't really that needed.

We don't need to have this K-pop crypto for what? They don't offer something new and we wouldn't be surprised if this one easily dies down even after a few days on launch.
Main motive is either on accumulating funds or just trying to join with the hype for adding more exposure.

[ReiMomo]

I think this will have no impact anything for the world of Crypto, they are only carrying out their own mission, specifically for their own fans. I feel that their tokens will not long survive in the market, this is only a play token, for jokes.

Same view for this one and we have seen that there were lots of projects do tagged up anything just to make some shitcoin which isn't really that needed.

We don't need to have this K-pop crypto for what? They don't offer something new and we wouldn't be surprised if this one easily dies down even after a few days on launch.
Main motive is either on accumulating funds or just trying to join with the hype for adding more exposure.

In short, they just wanted to create another shitcoin and using the blockchain in a way to promote the K-POP name and also to get profit as well to their fans. Sound likes a bit silly but that is true. They don't help the market through the price situation but yet they contribute to making bitcoin have exposure and that's it. Well, we can consider this is a part of good news though

[safari88]

Are K- pop  that popular that they are confident that it will generate support,

currently i think K-Pop very popular in the world because they already break the most 24hours view for Music Video with total views 74.6 Million

I don't even know if all the K pop fans are into Cryptocurrency, they should instead adopt a Crypto currency first and observe it's success before they launch their own,

i believe if SM Ent. Make their cryptocurrency with a lot of bonus or benefit many of K-Pop Fans from all the group that SM Ent. has i think it will be bring many people to buy their coins and using it on their platform

besides how many K-pop superstars they have in their stable because I'm not a K - pop fans.

i think there are a lot of K-Pop star under SM Ent. and if you want to see maybe you can read it here SM Entertainment artists

[Arsenyo]

I'm certainly not a fan of conspiracy theory, but in my opinion K-POP will soon take over the whole world. Of course, I have nothing against it But if to speak seriously, K-POP now is a strong branch of the entertainment industry, which is based in a fairly developed country, so I think it will have an impact.

[Ailmand]

It is not far that even the showbiz and entertainment industry will be using cryptocurrency. It could be a good way to promote and expose crypto to the mass which could help in mass adaptation. Knowing that Kpop is somehow know around the globe.

[meliodas]

It is not far that even the showbiz and entertainment industry will be using cryptocurrency. It could be a good way to promote and expose crypto to the mass which could help in mass adaptation. Knowing that Kpop is somehow know around the globe.

Yes they are really known around the globe and they have a huge community of people who really love K-POP and other type of Korean creations. If the K-POP companies will really use the cryptocurrencies then it will become the start of the revolution of cryptocurrency around the world since it will give a lot of exposure for cryptocurrency that could lead into adaption.

[JeffBrad12]

Will definitely bring a major impact the the artist under the SM entertainment and that includes the KPOP fans aswell, but not really for the world wide. Maybe it's just their last effort to save their company from bankruptcy. I haven't followed the news about this company but it seems that they have some kind of urgent circumstances and facing a big problem that forces their investors to withdraw from the company and the company itself the capital to keep on mantaining its operation. If this become a success for the company, I'm pretty sure that the other company that works in the same field will follow the strategy and then basically there'll be a crypto specialized for KPOP I guess.

[matchi2011]

It is not far that even the showbiz and entertainment industry will be using cryptocurrency. It could be a good way to promote and expose crypto to the mass which could help in mass adaptation. Knowing that Kpop is somehow know around the globe.

I also read that even Boxing star already created his own version of crypto coin, PAC Token was named after Manny Pacquiao a well known boxing champs.
With this new additions of K-pop industry and if the trends will turn according to it's plan, we will expect more celebrities and well known big names that will also embrace the chanin and begin to work with blockchain technology.

[imstillthebest]

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yes for that I am sure a business in the entertainment industry will succeed using crypto.

many celebrity and artist that are on the entertainment industry have promoted and own a crypto business before but no i dont see any positive updates from them  .

 they are silent , so how can you say that  crypto on this kind of industry will succeed ? only few maybe and on the kpop industry maybe  . 

i havent heard any kpop that joins crypto aside from this . this could be the first one ?  let see how this goes. 

[Oilacris]

I think this will have no impact anything for the world of Crypto, they are only carrying out their own mission, specifically for their own fans. I feel that their tokens will not long survive in the market, this is only a play token, for jokes.

Same view for this one and we have seen that there were lots of projects do tagged up anything just to make some shitcoin which isn't really that needed.

We don't need to have this K-pop crypto for what? They don't offer something new and we wouldn't be surprised if this one easily dies down even after a few days on launch.
Main motive is either on accumulating funds or just trying to join with the hype for adding more exposure.

In short, they just wanted to create another shitcoin and using the blockchain in a way to promote the K-POP name and also to get profit as well to their fans. Sound likes a bit silly but that is true. They don't help the market through the price situation but yet they contribute to making bitcoin have exposure and that's it. Well, we can consider this is a part of good news though

Yeah you are right even though we do see this as a shitty way on making their own shit token but at least they are giving out some publicity with crypto which will end up on curiosity specially to its fans.We cant say if it would be effective but for sure there would be some people who would able to go to the right path.

This is indeed targeting out to make money into their fans but well this isn't our business though.

[coin-investor]

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

It will have an impact on K pop industry but I don't think so in the Cryptocurrency, I hope they did make a feasibility study because K pop is not a big industry and I highly doubt it will have volume in the market, because it will only serve a small industry, if they are sure of it then why not we have seen Akon creating his won coin for his countryman and Pacquiao too is going to launch one, but coins coming from popular figure will not last long, we have seen in the past how people create coins for popular figure and they are not around anymore.

[karanggatak]

i dont know it will make people more attract to crypto, or maybe it can attract them with small chance. yes, if how much product will be success depend on who is promotes, but if they just promotion like the artist before, im not sure if what they do will give high impact for their product

[TheCoinGrabber]

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.

They're just gonna sell rabid K-Pop fans some shit coin that would quickly become useless faster than the average K-Pop aspirant's career.

In general, it's wise to stay away from celeb coins, they usually have nothing solid to stand on aside from the celeb's popularity and even that is not a guarantee these coins would hold their value.