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

Magkirap

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Quote from: DaftAjax on September 26, 2019, 08:56:22 AM

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: Korea’s Biggest Entertainment Company to Launch Its Own Cryptocurrency and K-Pop Music Giant SM Entertainment Is Planning Its Own Cryptocurrency

I think it prompts a great impact for the company, this was indeed called digital adoption.

airdnasxela

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This is really new to me. Like cryptocurrency is way to different from KPOP thingy but they're making way just to connect it. I mean, it's a good thing that they're trying to adopt cryptocurrency. It means they're seeing the potential of cryptocurrency. But would it really help for mass adoption? I mean, their fans would give care about this? Or it's just another hype at first but won't really give much impact after. I don't see most fans will be interested about this. A lot of fans were actually still young to be interested.
I want to know the updates about SM Entertainment and their plan with regards to crypto.

TrevorS

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I do not see anything surprising in this, given that everyone who is not lazy is now joining the cryptocurrency hype.
Cryptocurrencies provide quite a lot of potential for the development of the future, this is a financial system that may well replace the current, or may not replace, but somehow it has a significant impact on the processes taking place in the world today. Due to the fact that a very strong interest in cryptocurrencies has already been created, the development of the technology itself continues without stopping, more and more people are accepting the idea that cryptocurrency is possibly our future. Even if the cryptocurrency does not receive maximum distribution in the future, it has a certain potential. Therefore, the largest companies are afraid of lost profits and they will maximize their influence in the cryptocurrency sphere in one way or another.

NewRanger

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Quote from: celot on October 23, 2019, 03:26:57 AM

Quote from: DaftAjax on September 26, 2019, 08:56:22 AM

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: Korea’s Biggest Entertainment Company to Launch Its Own Cryptocurrency and K-Pop Music Giant SM Entertainment Is Planning Its Own Cryptocurrency

KPOP want to adopt bitcoin and altcoin? I think very good ideas if KPOP become part with bitcoin and altcoin where they have many fans in the world, how when they sing a song and use bitcoin or altcoin as platform promote I think many fans of KPOP will invest with bitcoin and altcoin.

i am still confuse with correlation between KPOP with bitcoin.how they will adopt bitcoin in their show.except as payment in their concer, there is no rellation again between both of them. Maybe if they build aplication for their fans which is have content about their artist and pay with bitcoin , in my opinion it will make demand rise imppresively.but if theh developt their own currency and used it in theie ecosysten it also will has positive impact , more korean fans will know about cryptocurrency.

celot

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Quote from: DaftAjax on September 26, 2019, 08:56:22 AM

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: Korea’s Biggest Entertainment Company to Launch Its Own Cryptocurrency and K-Pop Music Giant SM Entertainment Is Planning Its Own Cryptocurrency

KPOP want to adopt bitcoin and altcoin? I think very good ideas if KPOP become part with bitcoin and altcoin where they have many fans in the world, how when they sing a song and use bitcoin or altcoin as platform promote I think many fans of KPOP will invest with bitcoin and altcoin.

DaftAjax

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Quote from: Vishnu.Reang on October 20, 2019, 11:05:48 AM

The big question here is whether they are doing this as a result of their love for cryptocurrency, or due to their greed for money. And from what I could see, it is the second case. They are dishing out their own cryptocurrency. So we will be having another worthless shitcoin, on top of the 10,000 or so old ones. They expect their fans to purchase these coins, and they can get rich from the sales.

Actually both. We can't neglect the potential of this project and the amount of money they could possibly gain. And unlike the other "10, 000 or so old one" projects, this one actually has the fandom/supporters others could never have--even combined. I believe they're not going to abandon the project as they are a renown entertainment company. And they would lose a lot of investors of the company if this project will result just like the others. And I think they've planned this out carefully so that their investors/supporters, as well as the fans, wouldn't be disappointed. And I'm sure the fans would respond to this as well.

If you're curious about who is SM Entertainment, I suggest you pay them a visit.

Quote from: davinchi on October 21, 2019, 09:30:20 AM

Any project of cryptocurrency that is being released now may not have effect on the market immediately, but it will be a factor for future effect when they eventually start functioning very well, because any project that is newly established will still have to go through the face of actually winning the heart of people to get them to buy the coin, and after which there is another stage of getting them to constantly be visiting the project, but that will be determined by the quality of project that they have.

This type of project is really a good one, entertainment industry is a sector that can really take use to that level that we want., there are few entertainment projects that we have now, and I am sure that this one being one of the first will really have the hype and get their project to be successful.

It's nice to see people who has positive feedback, and an open mind--who can see the potential of this project.

davinchi

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Quote from: blckhawk on October 19, 2019, 01:41:23 AM

It's great to see that cryptocurrency is getting more and more relevant and known to the public. These projects introduce them the system and how it can be an alternative investment. Given that it's an entertainment firm and their fanbase is huge, not only in Korea but also around the world since they do tours, this 'may' have an impact. But I don't think it would be significant as of now, it's still too early to say if this would become successful or not. Either way, it's still good to see that crypto isn't falling but rather, growing slowly, and sooner or later be accepted worldwide.

Any project of cryptocurrency that is being released now may not have effect on the market immediately, but it will be a factor for future effect when they eventually start functioning very well, because any project that is newly established will still have to go through the face of actually winning the heart of people to get them to buy the coin, and after which there is another stage of getting them to constantly be visiting the project, but that will be determined by the quality of project that they have.

This type of project is really a good one, entertainment industry is a sector that can really take use to that level that we want., there are few entertainment projects that we have now, and I am sure that this one being one of the first will really have the hype and get their project to be successful.

Vishnu.Reang

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The big question here is whether they are doing this as a result of their love for cryptocurrency, or due to their greed for money. And from what I could see, it is the second case. They are dishing out their own cryptocurrency. So we will be having another worthless shitcoin, on top of the 10,000 or so old ones. They expect their fans to purchase these coins, and they can get rich from the sales.

fiulpro

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This is actually very cool considering how many fans they have around the world , the altcoin would go up really soon but at the same time like any other coin , they are bound to go down .. I think most of the companies and the industries are trying to benefit from the cryptocurrencies by launching their own , instead of supporting the existing ones, that could be more sustainable and could work more.

bitzizzix

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Quote from: ?? on ??

Quote from: ice098 on October 16, 2019, 03:40:12 PM

Quote from: TrevorS on October 16, 2019, 02:32:55 PM

No wonder, cryptocurrency hype no matter what it is has a very strong influence on large corporations. Nobody wants to lose their jackpot in the future. Everyone is afraid that once again they will miss the moment when it was possible to earn a lot of money for cryptocurrencies, I remember 2017. Therefore, now everyone will somehow implement the blog chain and various services their activities.

Maybe they see the advantages of crypto nowadays and also they think that this will be a good investment for their company , they are the first company in their country that uses or will be using cryptocurrency it can create hype to many people it can cause rumors that could create news that they can use to gain people and earn more using this.

They are all businessmen and they observed and saw the opportunity behind the wonder of cryptocurrency and that is why they are implementing it into the k-pop industry. They already got a lot of crazy fans around the world so it is a no brainer for them to sell a token or cryptocurrency for their fan that they can use to purchase some merchandise from their k-pop idols.

well that's right, of course the benefits people will increasingly trust crypto and many who use it. because k-pop fans are so incredibly enthusiastic that I know.

This is a business that utilizes the currently popular K-pop industry to engage in cryptocurrency to apply it to its fans and for those who are crazy fans will definitely apply it because they don't want to disappoint their idols and encourage to buy related merchandise in the K-pop industry to use cryptocurrency or other things, this is one of the developments in cryptocurrency for millennial adolescents because most of the K-pop industry is the majority that supports millennial youth throughout the world, especially in Korea.

TheCoinGrabber

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Quote from: dunfida on October 16, 2019, 03:23:53 PM

Quote from: TheCoinGrabber on October 16, 2019, 01:23:19 PM

Quote from: ?? on ??

Quote from: TheCoinGrabber on October 05, 2019, 03:59:46 PM

Quote from: DaftAjax on September 26, 2019, 08:56:22 AM

snip

I can no longer find the first one that quoted me but my take on this is, if it's simply a K-Pop related altcoin, it'll be very niche and might not have much use outside this industry. That's why I thought it'll likely just be for these companies to collect funds.

Now it they are going to integrate it with other apps, then it might have a future. Maybe not only can fans get coins by buying with cash but maybe they can earn it on events, then they can spend it on merchandise. Of course it's best if it'll be like an actual crypto that can be used for purchases in other platforms.

All we can do now is to speculate since its not been clearly stated on what would be the actual usage of these coins but same as you said if these were just solely used for
their own then this coin wont last on the market and i agree that they are just milking out their fans or supporters.

It should really have that usage where everyone would benefit out.If these greedy bastards would end up on the common path then im sorry for the potential investors or die hard fans on this one.

Yes, it's still all suspicion that this might be like most cashgrab since there's not much info yet but who knows, they might surprise us. I've heard about Klaytn, who knows maybe this coin can be a part of that.

Well, if it fails and burns people, maybe there'll be less K-Pop fans. Either way, it's a win-win in my view. Grin

Palider

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Quote from: avikz on September 26, 2019, 12:48:57 PM

Firstly, cryptocurrency or blockchain is not a magic wand which will make everything right upon implementation. Implementation of blockchain will not make the falling share price recoverable! Especially in a sector like media or celebrity management!

Secondly, a lot of people don't understand the utility of a cryptocurrency! Why the hell people would need a separate crypto to make flight ticket booking and another crypto for movie ticket booking??

What is celebrity engagement btw? What's the need of a cryptocurrency here?

Frankly, I don't see any business potential here in the entire proposal!

I think crypto currency is still used, especially if they discount anyone who uses crypto currency to pay for tickets to their concerts and world tours. It certainly has a huge impact on crypto especially bitcoin as many kpop fans today are also millennials who should adopt bitcoin to increase support and pass this knowledge on to their friends.

blckhawk

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It's great to see that cryptocurrency is getting more and more relevant and known to the public. These projects introduce them the system and how it can be an alternative investment. Given that it's an entertainment firm and their fanbase is huge, not only in Korea but also around the world since they do tours, this 'may' have an impact. But I don't think it would be significant as of now, it's still too early to say if this would become successful or not. Either way, it's still good to see that crypto isn't falling but rather, growing slowly, and sooner or later be accepted worldwide.

DaftAjax

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Quote from: dunfida on October 16, 2019, 03:23:53 PM

Quote from: TheCoinGrabber on October 16, 2019, 01:23:19 PM

Quote from: ?? on ??

Quote from: TheCoinGrabber on October 05, 2019, 03:59:46 PM

Quote from: DaftAjax on September 26, 2019, 08:56:22 AM

~snip

All we can do now is to speculate since its not been clearly stated on what would be the actual usage of these coins but same as you said if these were just solely used for
their own then this coin wont last on the market and i agree that they are just milking out their fans or supporters.

It should really have that usage where everyone would benefit out.If these greedy bastards would end up on the common path then im sorry for the potential investors or die hard fans on this one.

Of course. Since it hasn't yet taken into effect or rather it hasn't yet made an effect, we can just wait for its results. It's quite obvious that one of their goals is to help the company, then the artists--and everything that comes next. In the beginning, you might feel that way but when supporters/investors actually care for the project, it will bring lots of opportunities. Now I don't wanna be called "optimistic" but I'd rather treat this as a "growing bud"--that when carefully tended and watered right, will bloom into a beautiful flower.

I don't think SM Entertainment is that stupid to just milk the fans--and the fans might be blinded to the fact that they're "supporting" their favorite artists, but I also think they're not stupid not to notice if they're being bamboozled. In addition, the way this planned out was actually brilliant. Taking advantage of the number of fandoms could take this project to places. It's not that they're forcing the fans to "buy/exchange" for their crypto, but if an idea comes to mind--I might think this is just like fundraising.

Quote from: ?? on ??

Quote from: ice098 on October 16, 2019, 03:40:12 PM

Quote from: TrevorS on October 16, 2019, 02:32:55 PM

~snip

well that's right, of course the benefits people will increasingly trust crypto and many who use it. because k-pop fans are so incredibly enthusiastic that I know.

Well, same here. I want a project to be successful for once.

ice098

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Quote from: TrevorS on October 16, 2019, 02:32:55 PM

No wonder, cryptocurrency hype no matter what it is has a very strong influence on large corporations. Nobody wants to lose their jackpot in the future. Everyone is afraid that once again they will miss the moment when it was possible to earn a lot of money for cryptocurrencies, I remember 2017. Therefore, now everyone will somehow implement the blog chain and various services their activities.

Maybe they see the advantages of crypto nowadays and also they think that this will be a good investment for their company , they are the first company in their country that uses or will be using cryptocurrency it can create hype to many people it can cause rumors that could create news that they can use to gain people and earn more using this.

dunfida

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Quote from: TheCoinGrabber on October 16, 2019, 01:23:19 PM

Quote from: ?? on ??

Quote from: TheCoinGrabber on October 05, 2019, 03:59:46 PM

Quote from: DaftAjax on September 26, 2019, 08:56:22 AM

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.

They're just gonna sell rabid K-Pop fans some shit coin that would quickly become useless faster than the average K-Pop aspirant's career.

In general, it's wise to stay away from celeb coins, they usually have nothing solid to stand on aside from the celeb's popularity and even that is not a guarantee these coins would hold their value.

Maybe that's your opinion, but this will be a breakthrough, of course, because the KPop is scattered everywhere. especially South Korea already uses a blockchain system.

they seem to be focusing on developing in South Korea and several countries that have a fans, this doesn't rule out the possibility of reaching out globally and that will be their great success

I can no longer find the first one that quoted me but my take on this is, if it's simply a K-Pop related altcoin, it'll be very niche and might not have much use outside this industry. That's why I thought it'll likely just be for these companies to collect funds.

Now it they are going to integrate it with other apps, then it might have a future. Maybe not only can fans get coins by buying with cash but maybe they can earn it on events, then they can spend it on merchandise. Of course it's best if it'll be like an actual crypto that can be used for purchases in other platforms.

All we can do now is to speculate since its not been clearly stated on what would be the actual usage of these coins but same as you said if these were just solely used for
their own then this coin wont last on the market and i agree that they are just milking out their fans or supporters.

It should really have that usage where everyone would benefit out.If these greedy bastards would end up on the common path then im sorry for the potential investors or die hard fans on this one.

TrevorS

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No wonder, cryptocurrency hype no matter what it is has a very strong influence on large corporations. Nobody wants to lose their jackpot in the future. Everyone is afraid that once again they will miss the moment when it was possible to earn a lot of money for cryptocurrencies, I remember 2017. Therefore, now everyone will somehow implement the blog chain and various services their activities.

TheCoinGrabber

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Quote from: ?? on ??

Quote from: TheCoinGrabber on October 05, 2019, 03:59:46 PM

Quote from: DaftAjax on September 26, 2019, 08:56:22 AM

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.

They're just gonna sell rabid K-Pop fans some shit coin that would quickly become useless faster than the average K-Pop aspirant's career.

In general, it's wise to stay away from celeb coins, they usually have nothing solid to stand on aside from the celeb's popularity and even that is not a guarantee these coins would hold their value.

Maybe that's your opinion, but this will be a breakthrough, of course, because the KPop is scattered everywhere. especially South Korea already uses a blockchain system.

they seem to be focusing on developing in South Korea and several countries that have a fans, this doesn't rule out the possibility of reaching out globally and that will be their great success

I can no longer find the first one that quoted me but my take on this is, if it's simply a K-Pop related altcoin, it'll be very niche and might not have much use outside this industry. That's why I thought it'll likely just be for these companies to collect funds.

Now it they are going to integrate it with other apps, then it might have a future. Maybe not only can fans get coins by buying with cash but maybe they can earn it on events, then they can spend it on merchandise. Of course it's best if it'll be like an actual crypto that can be used for purchases in other platforms.

kayvie

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Quote from: carriebee on October 13, 2019, 06:49:28 AM

Quote from: DaftAjax on September 26, 2019, 08:56:22 AM

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: Korea’s Biggest Entertainment Company to Launch Its Own Cryptocurrency and K-Pop Music Giant SM Entertainment Is Planning Its Own Cryptocurrency

That's great that another company is adopt crypto to their business and it's good thing to crypto too because there's a lot fans now of k-pop groups around the world. Because of this kind big step of Korean company there's a possibility that many people can known about blockchain because of this and hopefully it be really have big impact to crypto.

This might have a huge effect on the crypto community not just because of k-pop fans around the world, but because Koreans are very well-known when it comes to technology. This will boost the development of the cryptocurrency and investors will come from their country and also from their partners when it comes to investment.

carriebee

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Quote from: DaftAjax on September 26, 2019, 08:56:22 AM

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: Korea’s Biggest Entertainment Company to Launch Its Own Cryptocurrency and K-Pop Music Giant SM Entertainment Is Planning Its Own Cryptocurrency

That's great that another company is adopt crypto to their business and it's good thing to crypto too because there's a lot fans now of k-pop groups around the world. Because of this kind big step of Korean company there's a possibility that many people can known about blockchain because of this and hopefully it be really have big impact to crypto.

Topic: K-POP Company owners are joining the train hype of Cryptocurrency (Read 880 times)