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BTS’s NFT Is Back On Track Despite Fans Outrage By BTC Peers

by Mike Robinson

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BTS’s NFT Is Back On Track Despite Fans Outrage

Despite the outrage that followed Hybe’s announcement in November 2021 on its plan to launch digital photo cards of members of BTS through a collaboration with Dunamu, a financial technology company, the band, through its management company, Hybe, has announced again that it will be proceeding with the initial plan.

Bang Sihyuk (Chairman of Hybe) stated in a November 2021 statement that Hybe would be partnering.

“with Dunamu to create a way to expand the fan experience more diversely and securely, such as digitally authenticating the uniqueness of these photo cards and making them permanent, but also allowing them to be collected, exchanged, and displayed in a global fan community platform like Weverse.”

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Although investment experts may consider this a forward-thinking idea, the band’s plan to launch an NFT has not been well received previously by its fans, popularly known as BTS Army. This group is worried about its environmental impact. The fans of this popular band claim that NFT is dependent on energy, which can lead to climate change. The band shouldn’t be linked to a social problem such as this, considering that they have taken a stand on environmental sustainability previously. The fans went further by revolting online by creating and trending Twitter (NYSE:) hashtags such as BoycottHybeNFT” and “#ARMYsAgainstNFT” when the news about creating NFT for the music band emerged. Fans of K-Pop threatened to boycott Hybe should they not be satisfied.

Hybe is the K-Popband’s management firm and has said that they will continue to work on NFTs, based after K-Popstars. According to John Kim, head of NFT business at HybeAmerica, the company’s plan to create “digital photo cards” for the band members is hinged on the prospects of NFT. He explained that

“We believe NFTs have the potential for expansion and hope they will provide fans with more varied experiences and opportunities to express themselves.”

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