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I see right now there are many celebrities who want to make their coins and some even make their own coins.
For example Manny Pacquiao. The coin has been released but has no impact.
So I don't think news from SM entertainment will have a major impact.
As I know, SM Entertainment is not the first company to have proposed the use of blockchain technology in the K-pop industry.
depends on the coin . thier coins have no impact because it might be that thier coins are still new and not yet been promoted properly or maybe thier coins are simply not just attractive because there is no useful element on it . still , kpop industry is pretty huge and pretty popular .
now imagine if crypto will be introduced by them i think cryptos can caught the attention of thier fans no matter how bad or good thier project are . the hype in kpop is bigger than the hype that a regular celebrity keep that in mind .