Naver and LINE launch NFT platform for K‑pop fans

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South Korea-based inter­net giant Naver Corp. launched its non-fun­gi­ble token (NFT) plat­form, NOW.Drops, with LINE NEXT on Wednes­day. The plat­form will let K‑pop music fans cre­ate cus­tomized NFTs.

See relat­ed arti­cle: Naver’s Zepeto meta­verse starts blockchain ini­tia­tive with Solana

Fast facts

  • NOW.Drops allows users to mint NFTs of their favorite musi­cal acts that they crop out of the exclu­sive con­tent on NOW., Naver’s live audio and video stream­ing ser­vice that fea­tures South Kore­an artists. 
  • To mint and save the spe­cial clips of their favorite acts, users need to pur­chase “crys­tals” which can also be used to pur­chase oth­er NFTs on the platform.
  • NOW.Drops can be accessed through LINE’s e‑wallet DOSI, which users can log into via social media accounts and make payments.
  • At the launch, K‑pop girl group NMIXX held an exclu­sive come­back show­case on NOW. and an NFT air­drop event on the new­ly opened platform.
  • LINE NEXT is the NFT sub­sidiary of Tokyo-based mobile app giant LINE Cor­po­ra­tion, which is owned by Naver and the Soft­bank Group.
  • HYBE Co., Ltd., which man­ages K‑pop’s BTS, is also set­ting up a U.S.-based music NFT plat­form with Duna­mu, the oper­a­tor of South Korea’s cryp­to exchange Upbit.

See relat­ed arti­cle: Should K‑pop’s BTS get pass on mil­i­tary duty? Meta­verse jury still out

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