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HYBE discloses exciting plans, including NFTs, collaborations, and a BTS related game

2021 HYBE Briefing with the Community event revealed surprising things in store for the new year (Image via hybecorp.com)
2021 HYBE Briefing with the Community event revealed surprising things in store for the new year (Image via hybecorp.com)
Tuba Waqar
ANALYST

The new year is nigh, and with it are new changes. HYBE’s latest corporate briefing sets the company upon a new path, with several changes and new projects.

HYBE Corporation, originally set up as Big Hit Entertainment, held its corporate briefing on November 4, titled 2021 HYBE Briefing with the Community. The meeting marked the end of a successful year for the entertainment company, and the artists under it, as well as chalked out a plan for the new year.

Please tune in to our “HYBE Corporate Briefing with the Community”,scheduled to begin soon at 10 AM on the HYBE LABELS official YouTube channel.We look forward to your interest.youtu.be/XBIDpFNrOZA

Some of the bands currently under the HYBE banner are BTS, TXT and ENHYPEN.


HYBE announces more plans regarding Weverse and V Live integration

Among the various surprises in store for fans, HYBE announced several plans for the fan community platform, Weverse, and its integration with Naver’s V LIVE. The entertainment company also announced the launch of a new game created in part by BTS, and the company’s new foray into the NFT business.

.@HYBEOFFICIALtwt recorded its all-time biggest quarterly operating profit of 65.6B won ($55.45M) and sales of 341B won ($288.25M) 3Q 2021, each number up by 63 percent and 80 percent, respectively, from same period last year. A big day for Hybe and its artists! 👍 https://t.co/unEt5CGlmd

At the beginning of 2021, HYBE had announced the impending integration of V LIVE and Weverse into one single platform. Back then, Naver had gained a 49 percent stake in Weverse Company (formerly beNX), which is a subsidiary of HYBE, with Naver’s V LIVE being transferred to beNX.

In the latest briefing, HYBE announced a timeline for the events, stating that a new version of Weverse will be launched in the first half of 2022. This new Weverse will incorporate “spot live” technology used by Naver’s V LIVE, which enables the artists from bands like BTS to broadcast live on Weverse at any time.

Weverse will create even more synergy with Naver's R&D capabilities in search, AI, and other technologies in the future.

HYBE - WEVERSE and VLIVE will merge in the 1st half of 2022 also live streaming will be adding on Weverse soon.#BTS #RM #JIN #SUGA #JHOPE #JIMIN #V #JUNGKOOK https://t.co/X8DBgVqtY4

A brand new game with a BTS connection

The new game, ideated by BTS members, has got ARMY excited. HYBE announced that a new game will be launched, which will allow fans to get a closer look at artists and their music, encouraging more interaction. The game was based off several ideas pitched by members of BTS, and is scheduled to be launched in the first half of the new year.

Check out a sneak peek here:


Collab with Dunamu on NFTs

The third major announcement, is a partnership with the leading financial technology company Dunamu. HYBE, in collaboration with Dunamu, will lay out a new business model, which will combine intellectual property or IP, with the latest buzzword in tech, NFT.

NFT stands for "non-fungible token" and is based on blockchain, the technology that underpins modern cryptocurrency development and exchange. NFTs can be any digital content with unique ownership that can be bought (although the content will still be available for others to view and copy).

[Breaking News] Korea Economic reports HYBE will officially announce their entry into the NFT market with a long term partnership with Dunamu, the operator of cryptocurrency Upbit. They will be issuing ₩400B worth of convertible bonds to acquire 861,004 shares of Dunamu. + twitter.com/modooborahae/s… https://t.co/kGnqME3MBP

HYBE and Dunamu’s strategic partnership will establish a joint corporation that will take care of NFT related business. The two companies have agreed to establish a joint corporation that will do business related to NFTs.

Fans of BTS, TXT and Enhypen will be able to digitally own content and products based on artist-related IP. HYBE and Dunamu discussed their plans to consider ways to safely broaden the fan experience, one of which is the collection, exchange, and display of IP-based digital assets on platforms such as Weverse.

The UN uses NFTs, so does JYP and SM. Leave 875 out of this the discussion if you want to bring up Hybe using them https://t.co/gvt1tehNBi

Apart from these, HYBE also announced the creation of a new girl K-pop group, based in the US, as part of a collaboration between HYBE America and Geffen Records of Universal Music Group. HYBE also unveiled a slate of original webtoons featuring BTS, TXT, and Enhypen.


Edited by R. Elahi
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