[Click eStock] "HYBE's NFT, an Active Means to Expand the Fandom Ecosystem"

"The Year of Active Consumption... Growing Expectations for Expansion into Metaverse and Games"

BTS (Provided by Big Hit Music) [Image source=Yonhap News]

[Asia Economy Reporter Minwoo Lee] Hive, which has secured a customer base from various platforms such as YouTube, Instagram, and Weverse, is expected to find it easy to conduct business based on non-fungible tokens (NFTs).

On the 24th, Hana Financial Investment made this analysis. Considering the characteristics of NFTs, which are easy to use when designing an ecosystem where all participants are rewarded based on blockchain technology rooted in decentralization, it is explained that Hive’s business accessibility is easy due to its vast user base.

Hive has already secured fandoms through various channels such as YouTube (60 million), Instagram (50 million), and Weverse (14 million) solely with BTS (Bangtan Sonyeondan). Rewards for fandom activities are issued as NFTs, and their value is recognized by price on NFT exchanges. Lee Kihoon, a researcher at Hana Financial Investment, explained, "If the ownership of NFTs, which are rewards for activities, is recognized and artists and fans create a healthy community value together, the ecosystem participating in the community will expand through asset price increases."

For example, if 1,000 NFTs or digital photocards are issued in three rounds targeting different groups, and the price of the first issued photocard surges on the NFT exchange, it is expected that popularity will explode even more afterward. The researcher said, "The enthusiasm of the fandom expands through the rise in NFT prices," and added, "Also, if some photocards are issued on the condition of membership registration on the NFT exchange, investors who were not interested in BTS will be attracted, naturally increasing the fandom."

As more people approach through exchanges, the value of content and intellectual property (IP) will increase, connecting with various platforms such as the metaverse (extended virtual world) and games. The researcher emphasized, "NFTs issued as rewards for fandom activities will act as a means rather than an end, marking the first year of active consumption rather than passive consumption of fandom," and added, "When the intangible value of fandom is proven by tangible numbers, more platforms will be connected, enabling the realization of a fandom metaverse."

This content was produced with the assistance of AI translation services.