K-POP Company owners are joining the train hype of Cryptocurrency - page 5.

audaciousbeing

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Quote from: DaftAjax on September 26, 2019, 09:56:22 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 its a good development that should be encouraged and coming from a company operating in the entertainment further shows the versatility and applicability of blockchain transcends beyond what people might think. However, I don't think this is going to cause a major impact the company in question is not Empire Music or Warner Bros or Fox which we know have the muscle to cause a major push in the industry however, it could be a start of a chain reaction that would change the things are done which is the bright side everyone should be looking at.

DaftAjax

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Quote from: davis196 on September 27, 2019, 08:13:26 AM

Major impact on what?K-pop music?Don't make me laugh. Grin

We know that South Korea is one of the crypto-friendly countries,where the corporations show interest in blockchain technology and cryptocurrency adoption.Anyway,I really doubt that K-POP coin or token will be really successful.Building a new blockchain from scratch is pointless.

Does my title really "that" misleading? Did you read the initial content?

Well, let me reiterate. The title says "K-POP Company owners....", it's not the K-POP groups themselves but the Company they belonged to. It's the decision of their executives and CEO to create their own blockchain. They're just going to meddle to the crypto and blockchain, they're the catalyst if you will. K-POP has a very large fanbase all over the world. One of the reasons is for the fans to be familiar with the entertainment ecosystem. Ecosystem my friend, that's a pretty large network if you ask me. Imagine tickets for concert tours that will cost you cryptocurrency. And their Music, that's going to be in major music streaming platforms such as Spotify, Apple Music, iTunes etc. I'd say that's a very big exposure.

I don't know man, I'm keeping my mind open. Because back then, Bitcoin is a laughing matter, a dude bought 2 boxes of pizza for 20K BTC. Then the year 2017 happen.

jhenfelipe

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Quote from: DaftAjax on September 26, 2019, 09:56:22 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.

Quote from: avikz on September 26, 2019, 01:48:57 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!

I don't know where did he (CoinDesk Author) get that part in his Blog. The blog was based on IT CHOSUN's, but "shareholder revolt and a falling stock price" are not mentioned there at all (I used auto translate). Most likely, it's his own opinion.

I personally won't spearhead SM Entertainment's decision. They surely put in a lot of considerations before deciding to adopt these new technologies (artificial intelligence and blockchain). It will have an impact for sure considering the number of artists/groups at SM Entertainment and their huge fan base, but am not sure if it's a "major impact".

crzy

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Quote from: ShooterXD on September 27, 2019, 07:37:02 AM

The Asiatics is miles away in front of the rest of the world when we talk about crypto.

Probably this K-pop celebrity investing in crypto for a long time, but now they talk about this to incentive people to join in.

But of course, this will be a great promotion to cryptoworld

Indeed, SM Entertainment is a big company and if they adopt for sure South Korea will be more crypto friendly. The influence of K-POP is too high around the world and in my country they love K-POP and most of the are too addict on k-pop groups. Well, whatever they plans all I know is a good future for cryptocurrency.

Strongkored

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Quote from: DaftAjax on September 26, 2019, 09:56:22 AM

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

things like this will emerge follow by other management entertainment,

Quote from: DaftAjax on September 26, 2019, 09:56:22 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.

I see a contradiction between the reason for making this and it's purpose.

Quote from: DaftAjax on September 26, 2019, 09:56:22 AM

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 don't think this news will have a major impact specially for crypto space, this just a common things just another company that want to adapoted the blockchain.

joelsamuya

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One of the big industries that can do well using the blockchain technology and of course also cryptocurrency is the entertainment and with this K-Pop company I hope that can be the model of this use-case scenario. Indeed, the blockchain can be applied to varied industries and in the entertainment it would be fans that will surely love the opportunity as they can now directly interact with their idolized stars. Entertainment and the blockchain can be a good force that can be helping more adoption of the technology.

Shenzou

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Quote from: DaftAjax on September 26, 2019, 09:56:22 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

Any type of project and investment into creating more blockchains is welcome to have, and this not something new, i mean we have seen and heard of many companies big or small moving toward digitization and using the blockchain technology in their own way, even though the KPOP culture is wide spread and have many fans, i don't think we will see any major impact, like other companies or fields would do.

davis196

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Quote from: DaftAjax on September 26, 2019, 09:56:22 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

Major impact on what?K-pop music?Don't make me laugh. Grin

We know that South Korea is one of the crypto-friendly countries,where the corporations show interest in blockchain technology and cryptocurrency adoption.Anyway,I really doubt that K-POP coin or token will be really successful.Building a new blockchain from scratch is pointless.

ShooterXD

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Quote from: mitchr4 on September 27, 2019, 07:49:55 AM

What I know about SM Entertainment is a big company that has many famous artists, girl bands and boy bands also has a lot of followers or fans. These influencers will be intermediaries to promote his Blockchain network on their social media. If they are serious about doing that I think it will have a positive impact on Blockchain technology.

But we need to know who is the real mind behind all of this. The entrepreneur who want this. I think this is not a plan coming from these artists.
This promotion can be very great, to work as payment method to pay for the shows, buy tickets and others.

mitchr4

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What I know about SM Entertainment is a big company that has many famous artists, girl bands and boy bands also has a lot of followers or fans. These influencers will be intermediaries to promote his Blockchain network on their social media. If they are serious about doing that I think it will have a positive impact on Blockchain technology.

ShooterXD

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The Asiatics is miles away in front of the rest of the world when we talk about crypto.

Probably this K-pop celebrity investing in crypto for a long time, but now they talk about this to incentive people to join in.

But of course, this will be a great promotion to cryptoworld

Baofeng

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Quote from: bitsurfer2014 on September 26, 2019, 10:06:41 AM

Well it seems this is an example of a good use case in the entertainment industry and once successfully implemented and steered in the right way, it could pave the way to more crypto exposure and adoption among South Koreans since they are well known to be enthusiastic and die hard followers in the entertainment industry thus the explosion of K-Pop generation.

It could be a good use case but it's just one industry, K-Pop. I think they don't need exposure, since South Korea together with Japan leads the way on the adoption of crypto in Asia.

Quote from: TravelMug on September 27, 2019, 04:51:58 AM

Just a marketing ploy for the company to join and get their hands dirty on this whole crypto verse.

This is probably the main reason, just imagine if they are going to pursue things like buying tickets with crypto, it's going to be huge, but let's see how it goes though, too early to say at this point. But good marketing strategy on their part.

TravelMug

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Just a marketing ploy for the company to join and get their hands dirty on this whole crypto verse.

Of course, South Koreans love their K-pop and their crypto so why not merge it all together.

Again, I don't see it having a huge impact, on the other hand, companies entering the scene just have one thing in mind, take advantage, join the bandwagon and make more money, easy peasy.

MonsterV

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I myself support SM Entertainment's plan to create its own blockchain network. So far, K-Pop has a many fans all over world, in fact, I think it's almost like western music. In my own country K-pop fans are very many, especially women, this also has a positive impact on bitcoin where fans will begin to be educated with blockchain later.

joromz1226

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Quote from: DaftAjax on September 26, 2019, 09:56:22 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

This is the first time I heard were one of the K-pop celebrities are planning on making its own blockchain network.
As long as they know what they are entering, that would probably a great news. And it is also a big chance and have a major
impact, due to they will the power of influence to their k-pop fans to support it. But it can also be wreck in one wrong move.

DaftAjax

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As I am reading the replies above this post, I am seeing mixed opinions about whether this will actually make recognition about blockchain overall or just the fans will meddle into it just because they wanted to help the Artists/Company.

My take on this is 50/50.

Think about this, a(n) artist(s) will go to a concert tour, so the stadiums and arenas will presumably be sold out. Before going to the tour the company will set an online bid or an online ticket purchase using their own Cryptocurrency(but can use Bitcoin or other "major" crypto) to buy tickets/souvenirs and stuff. Not only they'll help the Artists/Company, but also the arena/stadium owners will get exposed to this kind of transactions. So owners of this might accept more Cryptos in the future rather than fiats. And also, think about the songs they make that also can be bought by cryptos, I think that's enough exposure.

Now to the other half. Since we all know that cryptocurrencies are volatile, all of these might fail horribly and could lead to lots of losses rather than gains and exposure to people's familiarity towards cryptocurrencies and the blockchain itself.

juperos

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This is definitely one of their bad decisions if they are not one of the sharks that can manipulate the market!
As I know, SM entertainment's stock has dropped by more than 43% compared to November last year and they decided to enter the crypto market to revive?
This will have the opposite effect if the business finance manager is not good and for the token to be sold widely in the market, businesses will have to pay the price because the manipulation here is huge!

hatshepsut93

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Quote from: bitsurfer2014 on September 26, 2019, 06:46:25 PM

Integrating blockchain technology in ones business is never too late where in fact this revolution is just getting started! The bull run of 2017 is mostly about crypto prices getting ATH's and speculation but I honestly think it didn't reflect the actual scenario of blockchain adoption. Though I understand this is just a baby step on blockchain adoption, I consider it to be a good news in relation to achieving mainstream adoption on blockchain technology. Imho.

It's not a step towards mainstream adoption, because there most likely will be no working product, or no one will use it when it will get released. So many companies have already claimed that they will launch their own cryptocurrency or blockchain, and then absolutely nothing happened, because it all was just a PR stunt, or the project just couldn't leave the development phase. This is because blockchain is actually not a fundamental technology that works everywhere, but instead the opposite - a very narrow technology that so far only works in one field - money, specifically cryptocurrency.

bitsurfer2014

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Quote from: TimeTeller on September 26, 2019, 06:14:57 PM

Quote from: bitsurfer2014 on September 26, 2019, 10:06:41 AM

Well it seems this is an example of a good use case in the entertainment industry and once successfully implemented and steered in the right way, it could pave the way to more crypto exposure and adoption among South Koreans since they are well known to be enthusiastic and die hard followers in the entertainment industry thus the explosion of K-Pop generation.

K-Pop fans are everywhere and as many have said, they have large following already.
This is a good way to introduce crypto to younger generation as well.
As they can easily adopt to this kind of technology, it will help in the crypto adoption that we are aiming for.
I hope they have long-term plans for this kind of initiatives and not just because they want to join the bandwagon.

Maybe that company had realized the immense benefits of blockchain technology and decided to integrate it with their business model as I thnk this strategic decision usually comes from broadminded executives who had the guts to adopt emerging technologies as they see fit to benefit their company in the long run.

Quote from: hatshepsut93 on September 26, 2019, 03:15:24 PM

Lol they are 2 years too late, blockchain hype is on life support today, it's nothing like it was in 2017.

Integrating blockchain technology in ones business is never too late where in fact this revolution is just getting started! The bull run of 2017 is mostly about crypto prices getting ATH's and speculation but I honestly think it didn't reflect the actual scenario of blockchain adoption. Though I understand this is just a baby step on blockchain adoption, I consider it to be a good news in relation to achieving mainstream adoption on blockchain technology. Imho.

FlightyPouch

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As far as I know, this is also the reason why Manny Pacquiao's coin is made. I don't know exactly but I think they are the same. Impact? I agree that they are years late and I don't see any great impact of it jn the near future. Though in our country, there are a lot of mainstream fans of this KPOP and in a way, I think it might have an impact to those fans and not as a majority.

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