Re: K-POP Company owners are joining the train hype of Cryptocurrency

Quote from: DaftAjax on September 26, 2019, 01:56:22 PM

SM Entertainment, one of the top entertainment company in Sout Korea is planning on making its own blockchain network.

Due to the shareholder revolt and a falling stock price of the company they wanted to create this, in order for the Artists and the company itself be able to directly interact with the fans and be more engaged in the entertainment ecosystem.

What are your thoughts? Do you think this will have a "major" impact?

For more info, refer to these articles: Koreas Biggest Entertainment Company to Launch Its Own Cryptocurrency and K-Pop Music Giant SM Entertainment Is Planning Its Own Cryptocurrency

We need to review a little SM plan to expand cryptocurrency. In my opinion, the idea came from subcontractors who saw the KPOP audience market share is very large, although there are many other types of music why KPOP was chosen, the reasons are:

- KPOP fans are more fanatical because they have different market segments, namely small children and young children.
- His enthusiasm is very much proven since the morning the location of the concert was visited by many fans and the number of fans who came many times over.
- Fever and euphoria of KPOP in all countries last a long time, although the appearance is instant but the music can be sustained.

If SM develops a cryptocurrency, will its enthusiasm be as big as KPOP music? In my opinion not necessarily, because:

- Although the number of KPOP fans around the world reaches 89 million people, not all KPOP fans are people who understand cryptocurrency.
- When SM launches a cryptocurrency, the market will see and review its vision and mission, and whether the market will respond according to SM's expectations.