The U.S.-based Metaverse concert organizer Animal Concerts has partnered with South Korea’s Klaytn blockchain network to bring leading global music entertainment stars to the Metaverse.
Animal Concerts has partnered with South Korean unicorn Kakao’s Klaytn network
Animal Concerts, a metaverse concert organizer, has teamed with Kakao’s Klaytn network in South Korea to improve its exposure in the Korean entertainment business and help Klaytn’s global expansion aspirations.
As a result of the collaboration between Klaytn and Animal Concerts, Klaytn plans to expand the number of NFTs traded on its platform. According to a Monday announcement from Klaytn. Klaytn is one of only three blockchains with native support on OpenSea. The largest NFT platform, but its trading volume is the lowest. A NFT and Metaverse platform dubbed Kakao Games is under development by Klaytn’s parent company Kakao.
Animal Concerts will organize and promote concerts in the Metaverse
Animal Concerts promises to organize and promote concerts in the Metaverse, as well as issue a cryptocurrency. Nonfungible tokens (NFTs), and merchandise for well-known recording artists. The New York-based company has already partnered with Alicia Keys to promote her album KEYS.
Colin Fitzpatrick, CEO of Animal Concerts, believes that NFTs could help the music industry recover revenue lost since the start of the COVID-19 pandemic..
Artists that have shows and tours canceled miss out on cash. And the opportunity to engage with fans in a live setting. Holding concerts in a pandemic-free Metaverse might significantly alter the concert experience. And reduce touring costs while avoiding the disappointment of a canceled show.
According to Fitzpatrick, Klaytn is a natural partner since “Klaytn’s major objectives are the application of NFTs and the metaverse.”
Korean entertainment will be a huge thing for Animal Concerts
Due to current scaling concerns, Fitzpatrick remarked that while “technical limits prohibit how many people may actually attend a concert in the Metaverse”, he hopes to develop a network of virtual venues across existing and new Metaverse platforms to organize concerts in a manner akin to tour. “It’ll take a while to get the first few going, but they’ll eventually come to us,” he said.
Despite the fact that Klatyn is a huge corporate-backed blockchain, Fitzpatrick is unconcerned with decentralization. Shinhan Bank, LG Electronics, Netmarble. And the crypto-based businesses Maker and Binance are among the 30 members of the Klaytn governance council.