XETA Market Place
XETA Market Place Contents
- Sales of card-type NFT ART
- Sales of idols’ photoshoots, webtoon series, etc.
- Hidden options in the NFT card include digital content relevant to musicians, concert tickets, and so on.
There are complex systems behind NFTs, but for the sake of simplicity, user can think of NFTs as digital trading cards. Just like fans collect and trade real photo cards, NFT owners can store or trade them. Also, in the K-pop realm, NFT products may include digital products, photo cards, and audio files. Currently, experts and fans alike have mixed feelings about K-pop NFT.Thomas Baudinette, a lecturer at Sydney's Macquarie University, has described fan reaction to K-pop NFTS as "lukewarm to say the least", but many are seeing the potential of the new technology. “NFT will definitely be included in K-pop in the future,” said Areum Jung, assistant professor of Korean pop culture at the Sichuan University-Pittsburgh Institute, in an interview with Forkast News. But there are many fans who think differently. Some are concerned about the potential for idol exploitation, while others are talking about the environmental impact of NFTs and the cryptocurrencies used to purchase them.
Article source : Allkpop / What you need to know about the oncoming wave of K-pop NFTs
2021 FEATURED, an NFT platform provided by the 2021 cryptocurrency exchange Binance, has announced that it will collaborate with K-POP.
Large companies such as HYBE and popular groups such as BTS have started NFT partnerships, and fans can expect a variety of services through NFT.
Article source : manilatimes / Hallyu fans, K-pop idol NFTs spur crypto craze
XPOP STAR NFT PROJECT has expanded from a total of 100 NFT pieces of ‘PREMIUM NFT’ to AI NFT based on high-quality NFT design through collaboration with a total of 10 teams of popular K-pop boy groups and girl groups.
The most important attraction of NFT is 'the power of community'. NFTs create value and symbolism in the community. Being active in the group and forming a bond with other people within the group stimulates 'human social needs', and as individuals gather to form a group and become close, the sense of belonging increases. As these relationships spread, more and more people want to belong to this community. That is, the effect of increasing the value of the community is applied to NFT as it is.
As of 2020, 20 years after the launch of the Korean webtoon service, the webtoon market is estimated to be worth about $1 billion. Korean webtoons have been reborn as movies and dramas, rewriting success stories, and establishing themselves as the core of the Korean entertainment industry. It has also had a string of successes in the global market, allowing it to expand internationally. According to the KT Economic Research Institute, it has grown tenfold in 10 years from $100 million in 2010. Compared to 2019, the market size has increased by about 13%.
XPOP expects to launch a webtoon platform service in the second half of 2021, with participation from well-known Korean webtoon platform operators. Korea's webtoon service countries include Mongolia, Europe, China, and South America, and major investments are underway.
XETA Music is divided into a production part that connects with a group of music producers (lyricist, composer, arranger, etc.) and new singers, and a music distribution part that listens to and evaluates the produced music on the platform.
New singers produce sound sources for drama OSTs and single albums made by a music producer group and upload the sound source to the XETA music platform. The sound source adopted by the producer and the agency can be used for dramas and movies through release on the XETA platform, and the profits from this are distributed to the producers, new singers, and the agency. The evaluation system of the selected sound source reflects the evaluation of producers, planners, and users participating in XETA, thereby enhancing the publicity effect.
As a multinational project, we plan to build a publicity system to promote the participation of domestic and foreign artists along with singing, and to develop as a platform for global users. The release of XETA Music is planned for the first half of 2023.
Features of XETA Music :
- Subscription type and collectible music service
- Music provided to a friend is free to listen
- Sales of collectible NFTs related to artists other than music
- Linked with XETA Live, such as online live broadcasting-based performances, fan meetings, and 1:1 meetings
With the prolonged COVID-19 outbreak, the number of people who spend most of their time at home, including work and leisure, has increased rapidly. Awareness of health care and hygiene is increasing, and the demand for non-face-to-face consumption is changing instead of refraining from purchasing offline products or using services and minimizing contact with others.
Wal-Mart, the largest retail chain in the US, recently tried to sell fashion products through live commerce through TikTok, and Amazon, the world's largest e-commerce company, is operating Amazon Live. Locally, it is estimated that the US live commerce market will grow to $25 billion (about 27 trillion won) by 2023 as large platform companies such as Facebook and YouTube are jumping into video shopping. In China, the 'live streaming commerce' market, a shopping method where people watch real-time broadcasts, communicate and purchase products, is expanding after the spread of COVID-19. In China, where live streaming commerce has developed, various platforms such as Taobao Live (淘宝直播), Douin (抖音, Tik Tok), and Kwaishou (快手, Kwai) exist, and the number of local service users has reached 560 million.
Estimation of the size of the Korean live commerce market, Source: eBest Investment & Securities Research Center
ConsideringLooking at the Korean market, Naver provided a live commerce service for smart store sellers who entered Naver Shopping in March 2020, and officially launched it as 'Shopping Live' in July. Since then, it has recorded about 45 million cumulative views in 4 months, increasing by 75% in December compared to October 2020, and is rapidly growing.
Kakao also launched 'Kakao Shopping Live' in October 2020, and it has surpassed 20 million views in three months. With the strength of accessibility that anyone can easily access based on KakaoTalk, a national platform, differentiated shopping contents were provided, and the transaction amount more than doubled in two months.
As such, the two-way communication between sellers and consumers is regarded as the key point for the reason that the live commerce market is in the spotlight in the domestic market as well. Immediate feedback and high purchase conversion are suitable for the non-face-to-face consumption trend, and the non-face-to-face consumption trend has played a major role in the current market.
XETA Live is a platform service that can broadcast rice commerce broadcasts of celebrities who have secured their own fan base, such as celebrities and singers, in the rice commerce market as above. In this respect, XETA LIVE is the service that can induce the most user participation among XETA services.
XETA Live is largely divided into live commerce where celebrities, entertainers, and broadcaster artists participate to sell products, Shortcut service that reveals the daily life of artists, and 1:1 video call and short live performance service between artists and fans.
Features of XETA Live :
- 1:1 video call between artists and fans
- Linking with other entertainment services such as NFT buyers and music purchasers
- Providing live services that directly connect producers and consumers
- XETA user evaluation service and token reward system
- Expansion of ecosystem development through user participation of fan base such as short cut live
- Developed as a global platform with the participation of domestic and overseas users (Southeast Asia, Vietnam, etc.) in the field of live and video calls