Cube Entertainment is stepping up its global management.
Cube Entertainment completed the establishment of a joint venture with the metaverse company “Animoca Brands” (hereinafter referred to as “Animoca“). The corporate name is ANICUBE Entertainment Limited.
Animoca is considered a world leader in the fields of entertainment, blockchain, and gamification. Its subsidiary “The Sandbox” has partnered with more than 160 brands such as “Pororo,” K League, “The Walking Dead” and “Smurf.”
“ANICUBE Entertainment” was established by Cube Entertainment and Animoca, respectively, investing in a ratio of 6 to 4. It will be based in Virgin Island.
The two companies have set a goal to ensure that various business alliances such as “The Sandbox” continue. It is planning to develop a metaverse with the aim of issuing a non-replaceable token (NFT) within the first quarter of this year.
Animoca Chairman Yatsio expressed expectations for its collaboration with Cube. Management also expressed its will to create a metaverse. Chairman Yatsio said, “As a K-pop fan, I am very interested in K-culture.”
“We are looking forward to seeing creators owning assets on Metaverse and opening a music sharing site with fans. Various access to digital content will be possible in overseas markets,” he said.
The brand also proposed various collaborations with Cube. “We will speed up the preparation of our Metaverse by establishing various K-cultures, including virtual avatars and NFT issuance of our artists, led by Cube,” he said.
Ahn Woo-hyung, CEO of Cube, pointed out, “Music Metaverse will play a leading role in the global market to protect the rights of secondary copyright holders and creators related to sound sources and generate profits.”
“We are heralding a variety of activities. Our Metaverse will be able to expand into a music content platform,” he said. “Cube artists plan to carry out active activities.”
CEO Ahn said, “Cube Entertainment artists can write and compose their own songs. The artist will participate in the metaverse themselves and play their practical and sincere roles,” he stressed.
