Despite outrage from fans over the technology’s climatic impact, BTS’ agency Hybe announced that it will start developing NFTs for the band.
The Popular K-pop band BTS decided to develop and sell NFTs with strong criticism from fans last week.
Although no NFT has been produced yet, BTS’s fandom already expressed its disgust toward having their beloved band be part of anything that goes against the climate activism the boys have long stood for – especially since their 2018 appearance at the UN General Assembly.
Entertainment company Hybe first revealed plans to enter the NFTs movement in November last year, when it announced a new partnership with South Korean crypto exchange Dunamu. According to Dunamu’s NFT business development and strategy manager Kim Min-jung, the “carbon footprint is almost negligible.”
However, following the announcement, the band immediately drew criticism from fans, resulting in trending hashtags such as #BoycottHybeNFT and #ARMYsAgainstNFT.
Regardless, BTS’ agency Hybe has now confirmed that it’ll be moving forward with its plans, explaining that a new business model involving the combination of its intellectual property and NFTs – i.e., photo cards, digital collectible cards featuring images of K-pop idols, and more – will open the way for the band and its fans to express themselves.
“We believe NFTs have the potential for expansion and hope they will provide fans with more varied experiences and opportunities to express themselves,” HybeAmerica’s project lead John Kim told the Wall Street Journal.