Korean music companies are either jumping the bandwagon or expressing their interests in using Non-Fungible Tokens or NFTs. These pieces of digital content linked to blockchains continue to garner negative evaluation due to their impact on the environment. These crypto-arts have a complex background and are partially at fault with the planet-heating carbon dioxide emissions. The companies generate these emissions to buy and sell them and contribute millions of tons in waste.
KPop fandoms have already expressed their views on NFTs, discussing this topic at the symposium on “Sustainable K-Entertainment.” However, several K-Pop powerhouses heading the industry are already about to implement the NFTs as photo cards. In their Q4 Meeting, HYBE spoke that BTS and Seventeen would launch NFT photo cards. They partnered with blockchain Dunamu for this venture.
Korean JoongAng Daily reported that other local music companies are also launching their NFTs, with benefits. The agency EMA partners with the NFT company to bring Duo Glen Check’s NFT photocards. According to EMA, 7,777 of these NFTs will be available for launch soon. Fans who buy these will receive special benefits when they buy concert tickets.
This move is alarming environmental activists due to the unresolved heating issues on NFTs. With Climate Change continuing to cause damage to the planet, they fear that Kpop’s carbon footprint will increase.
Still, companies plan to go through with expanding to the metaverse through NFTs. It seems that in their fight against NFTs, KPop environmental activists lost on this one.