July 21, 2024

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Naver and LINE launch NFT platform for K-pop fans

South Korea-centered world-wide-web large Naver Corp. launched its non-fungible token (NFT) platform, NOW.Drops, with LINE Next on Wednesday. The system will let K-pop new music fans develop custom-made NFTs.

See associated report: Naver’s Zepeto metaverse starts off blockchain initiative with Solana

Speedy details

  • NOW.Drops will allow customers to mint NFTs of their favored musical functions that they crop out of the unique written content on NOW., Naver’s reside audio and movie streaming provider that features South Korean artists. 
  • To mint and conserve the special clips of their favored acts, buyers want to buy “crystals” which can also be made use of to invest in other NFTs on the platform.
  • NOW.Drops can be accessed by LINE’s e-wallet DOSI, which end users can log into by using social media accounts and make payments.
  • At the launch, K-pop girl group NMIXX held an exclusive comeback showcase on NOW. and an NFT airdrop occasion on the freshly opened system.
  • LINE Next is the NFT subsidiary of Tokyo-based cellular application giant LINE Corporation, which is owned by Naver and the Softbank Team.
  • HYBE Co., Ltd., which manages K-pop’s BTS, is also setting up a U.S.-primarily based new music NFT platform with Dunamu, the operator of South Korea’s crypto exchange Upbit.

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