BTS announces NFTs

  • BTS manager Bang Si Hyuk of Hybe Co. announced a partnership with Dunamu to create NFTs for the popular K-pop band BTS, such as photographs sold as NFTs.
  • “According to the report by Bloomberg, Hybe will buy a 2.5 per cent stake in Dunamu. This is the company that runs the Upbit crypto exchange, the largest of its kind in South Korea. The stake will be bought at a cost of 500 billion won, which is equivalent to $423 million. In a separate matter, BTS’ managing agency Hybe will also issue 700 billion won of new shares to Dunamu, as per a disclosure in the company’s regulatory file on Thursday.” (News18)
  • A few BTS fans expressed their displeasure, citing the impact of NFTs on the environment.