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

[Mumbeeptind1963]

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.

Maybe that's your opinion, but this will be a breakthrough, of course, because the KPop is scattered everywhere. especially South Korea already uses a blockchain system.

they seem to be focusing on developing in South Korea and several countries that have a fans, this doesn't rule out the possibility of reaching out globally and that will be their great success

Yeah, if this thing gonna happen it will be a great PR for cryptocurrency, other countries will see this and they will think this as a good idea that can help them to earn more. We will go in the mainstream if this will happen. There is an exchange that I know that is korean based exchange its probit I hope that they will make partnership with them.

[1714775745]

1714775745

[1714775745]

1714775745

[1714775745]

1714775745

[1714775745]

1714775745

[ropyu1978]

with a high position might have an influence especially on the people involved in it, of course this interest did not come just like that but several figures have also participated the train hype

[timerland]

I love it when popular influencers get into crypto-currencies, they have a lot of popularity and they can easily get their own fan-base into these projects as well, and it's actually the most popular form of marketing nowadays just due to how much influence these people have.

From my experience with K-POP fans, they almost idolise their pop stars and try to do whatever they do, these moves will definelty influence how much support crypto will receive in the future.

[Google+]

I think this can have a slight influence on the cryptocurrency name that many will use and that means demand is increasing, hopefully more and more pioneers or names can have a strong influence on cryptocurrency.

[ecnalubma]

South Korea has large numbers of crypto users its not surprising that some major companies wants to get involved in the trend. It is a brave move for company to jump on high risk but a high reward ecosystem, they really saw potential of the blockchain and applying it to K-POP could be a game changer also would influence their fans as well.

[Sithara007]

This has become very frequent now. Whenever some company faces internal revolt or low stock prices, they use the cryptocurrency as a tool to stay afloat. First it was Facebook, which came out with its Libra cryptocurrency in order to retain its stagnant user base. This K-POP company is the latest one. I am tired of seeing crypto being used by these people for their own vested interests. In the end, we will get another worthless shitcoin, and it is going to do more harm than good for the cryptocurrency ecosystem.

[Btcvilla]

K POP company want to joined cryptocurrency I think become fantastic with bitcoin or altcoin at the future, they have billion thousand fans around the world and can make billion fans K POP want to invest with bitcoin or altcoin, but K POP want to become part of bitcoin and altcoin iis true information or fake?

[Genemind]

It will definitely bring a huge impact since the Kpop industry is too huge and they will also attract a lot of fans to invest. Big names making noise in the crypto industry would surely be an advantage in the market. It might not be successful but we could still consider it as a good way to catch the attention of the public with crypto. Kpop's popularity would bring crypto into the mainstream again.

[DaftAjax]

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.

Obviously, you're not a K-POP fan. Well, I am not as well, but considering that I knew about this, and their fanbase(?) I was really surprised to see that this is already a worldwide phenomenon. So yeah, I think they're confident enough to make this step, for the Entertainment Industry.

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.

You could be right. But the thing is, back then, Bitcoin isn't mainstream as well. Considering the Age bracket of the fandom of K-POP, its going to be a lot of people. Not just a lot of people, but people with money, who will pay any amount they can just for their favorite artists.

[ReiMomo]

K POP company want to joined cryptocurrency I think become fantastic with bitcoin or altcoin at the future, they have billion thousand fans around the world and can make billion fans K POP want to invest with bitcoin or altcoin, but K POP want to become part of bitcoin and altcoin iis true information or fake?

Well, I think they really find out that they can really earn a big profit in crypto and the reason why they are planning to make there own currency through the blockchain network. This is a very big help to them to be able to become more popular because cryptocurrency is very popular and for sure their fan will also invest in what they had planned. Not directly help bitcoin but the entire crypto will bring popularity.

[DaftAjax]

Well, I think they really find out that they can really earn a big profit in crypto and the reason why they are planning to make there own currency through the blockchain network. This is a very big help to them to be able to become more popular because cryptocurrency is very popular and for sure their fan will also invest in what they had planned. Not directly help bitcoin but the entire crypto will bring popularity.

After reading replies on this thread, I've received mixed opinions.

I think at first, this will only help the company and the artists. Considering the amount of fandom they have(?) it's gonna be big for sure. Then, eventually, the fans will be more familiar with blockchain, cryptocurrency. And who knows, maybe by then, there's going to be something else like incorporating it to video live streaming or fundraising but this time with the use of cryptocurrency. I'm quite sure there's going to be lots of possibilities surrounding this project.

[carriebee]

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

That's great that another company is adopt crypto to their business and it's good thing to crypto too because there's a lot fans now of k-pop groups around the world. Because of this kind big step of Korean company there's a possibility that many people can known about blockchain because of this and hopefully it be really have big impact to crypto.

[kayvie]

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

That's great that another company is adopt crypto to their business and it's good thing to crypto too because there's a lot fans now of k-pop groups around the world. Because of this kind big step of Korean company there's a possibility that many people can known about blockchain because of this and hopefully it be really have big impact to crypto.

This might have a huge effect on the crypto community not just because of k-pop fans around the world, but because Koreans are very well-known when it comes to technology. This will boost the development of the cryptocurrency and investors will come from their country and also from their partners when it comes to investment.

[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.

Maybe that's your opinion, but this will be a breakthrough, of course, because the KPop is scattered everywhere. especially South Korea already uses a blockchain system.

they seem to be focusing on developing in South Korea and several countries that have a fans, this doesn't rule out the possibility of reaching out globally and that will be their great success

I can no longer find the first one that quoted me but my take on this is, if it's simply a K-Pop related altcoin, it'll be very niche and might not have much use outside this industry. That's why I thought it'll likely just be for these companies to collect funds.

Now it they are going to integrate it with other apps, then it might have a future. Maybe not only can fans get coins by buying with cash but maybe they can earn it on events, then they can spend it on merchandise. Of course it's best if it'll be like an actual crypto that can be used for purchases in other platforms.

[TrevorS]

No wonder, cryptocurrency hype no matter what it is has a very strong influence on large corporations. Nobody wants to lose their jackpot in the future. Everyone is afraid that once again they will miss the moment when it was possible to earn a lot of money for cryptocurrencies, I remember 2017. Therefore, now everyone will somehow implement the blog chain and various services their activities.

[dunfida]

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.

Maybe that's your opinion, but this will be a breakthrough, of course, because the KPop is scattered everywhere. especially South Korea already uses a blockchain system.

they seem to be focusing on developing in South Korea and several countries that have a fans, this doesn't rule out the possibility of reaching out globally and that will be their great success

I can no longer find the first one that quoted me but my take on this is, if it's simply a K-Pop related altcoin, it'll be very niche and might not have much use outside this industry. That's why I thought it'll likely just be for these companies to collect funds.

Now it they are going to integrate it with other apps, then it might have a future. Maybe not only can fans get coins by buying with cash but maybe they can earn it on events, then they can spend it on merchandise. Of course it's best if it'll be like an actual crypto that can be used for purchases in other platforms.

All we can do now is to speculate since its not been clearly stated on what would be the actual usage of these coins but same as you said if these were just solely used for
their own then this coin wont last on the market and i agree that they are just milking out their fans or supporters.

It should really have that usage where everyone would benefit out.If these greedy bastards would end up on the common path then im sorry for the potential investors or die hard fans on this one.

[ice098]

No wonder, cryptocurrency hype no matter what it is has a very strong influence on large corporations. Nobody wants to lose their jackpot in the future. Everyone is afraid that once again they will miss the moment when it was possible to earn a lot of money for cryptocurrencies, I remember 2017. Therefore, now everyone will somehow implement the blog chain and various services their activities.

Maybe they see the advantages of crypto nowadays and also they think that this will be a good investment for their company , they are the first company in their country that uses or will be using cryptocurrency it can create hype to many people it can cause rumors that could create news that they can use to gain people and earn more using this.

[DaftAjax]

~snip

~snip

~snip

~snip

~snip

All we can do now is to speculate since its not been clearly stated on what would be the actual usage of these coins but same as you said if these were just solely used for
their own then this coin wont last on the market and i agree that they are just milking out their fans or supporters.

It should really have that usage where everyone would benefit out.If these greedy bastards would end up on the common path then im sorry for the potential investors or die hard fans on this one.

Of course. Since it hasn't yet taken into effect or rather it hasn't yet made an effect, we can just wait for its results. It's quite obvious that one of their goals is to help the company, then the artists--and everything that comes next. In the beginning, you might feel that way but when supporters/investors actually care for the project, it will bring lots of opportunities. Now I don't wanna be called "optimistic" but I'd rather treat this as a "growing bud"--that when carefully tended and watered right, will bloom into a beautiful flower.

I don't think SM Entertainment is that stupid to just milk the fans--and the fans might be blinded to the fact that they're "supporting" their favorite artists, but I also think they're not stupid not to notice if they're being bamboozled. In addition, the way this planned out was actually brilliant. Taking advantage of the number of fandoms could take this project to places. It's not that they're forcing the fans to "buy/exchange" for their crypto, but if an idea comes to mind--I might think this is just like fundraising.

~snip

~snip

~snip

well that's right, of course the benefits people will increasingly trust crypto and many who use it. because k-pop fans are so incredibly enthusiastic that I know.

Well, same here. I want a project to be successful for once.

[blckhawk]

It's great to see that cryptocurrency is getting more and more relevant and known to the public. These projects introduce them the system and how it can be an alternative investment. Given that it's an entertainment firm and their fanbase is huge, not only in Korea but also around the world since they do tours, this 'may' have an impact. But I don't think it would be significant as of now, it's still too early to say if this would become successful or not. Either way, it's still good to see that crypto isn't falling but rather, growing slowly, and sooner or later be accepted worldwide.

[Palider]

Firstly, cryptocurrency or blockchain is not a magic wand which will make everything right upon implementation. Implementation of blockchain will not make the falling share price recoverable! Especially in a sector like media or celebrity management!

Secondly, a lot of people don't understand the utility of a cryptocurrency! Why the hell people would need a separate crypto to make flight ticket booking and another crypto for movie ticket booking??

What is celebrity engagement btw? What's the need of a cryptocurrency here?

Frankly, I don't see any business potential here in the entire proposal!

I think crypto currency is still used, especially if they discount anyone who uses crypto currency to pay for tickets to their concerts and world tours. It certainly has a huge impact on crypto especially bitcoin as many kpop fans today are also millennials who should adopt bitcoin to increase support and pass this knowledge on to their friends.