 |
| Momentica promotes the sale of digital cards of boy band ENHYPEN on its homepage. Screenshot from Momentica's website |
By Lee Min-hyung
Digital cards of the seven members of boy band ENHYPEN have become available for global fans to collect for the first time on the Momentica digital collectibles platform.
Momentica is operated by Levvels, a joint venture established by Dunamu and HYBE, Korea's leading firms in cryptocurrency and entertainment, respectively. The Los Angeles-based subsidiary focuses on the emerging fandom market with its expertise in non-fungible tokens (NFTs) and blockchain technology.
The company will add more digital cards representing a star-studded lineup of K-pop idols, including members of Le Sserafim, Seventeen and Fromis 9.
Momentica said fans can collect various digital content related to the stars and trade it via the trading platform.
Momentica also certifies content ownership of the artists when fans purchase the digital cards. All of them are recorded in Momentica's blockchain, so each one comes with unique characteristics, according to Levvels.
"Momentica helps fans keep track of artists' major activities each year, remember their memorable moments and even collect them via the digital cards, so they can freely enjoy the records at any time," said Jang Sung-chan, chief operating officer of Levvels. "We will expand the service's coverage, so more global fans can enjoy artists' content with more ease without any space restrictions."
Dunamu is betting big on the NFT business with high hopes of it becoming a foundation for global expansion. Dunamu CEO Lee Sirgoo also reiterated his strong interest in generating tangible outcomes with the new business during this period of crypto uncertainty.
According to data from the Korea Financial Intelligence Unit, Korea's top five crypto exchanges ― including Upbit, operated by Dunamu ― reported a daily average transaction volume of 5.2 trillion won in the first half of 2022, down by more than 50 percent from the latter half of 2021.
Dunamu enjoyed an earnings high last year on excess liquidity amid an early part of the pandemic, but the U.S. Federal Reserve's hawkish moves in recent months have ended up freezing crypto market sentiment, pushing crypto exchanges here to seek fresh revenue areas amid falling crypto-related commission earnings.
Dunamu founder and Chairman Song Chi-hyung also identified NFTs and the digital fandom business as its next key revenue source. He takes the lead in the business as a board member of Levvels, along with HYBE America CEO Jason Jaesang Lee.
![[INTERVIEW] Partnerships with Korean companies help Delta Air Lines' post-pandemic recovery](https://img.koreatimes.co.kr/upload/thumbnailV2/892c5f8b83fc45018380807ff3c3d42b.jpg/dims/resize/178/optimize)
![[VIDEO] Do Koreans know K-pop idols well?](https://img.koreatimes.co.kr/upload/thumbnailV2/230126_koopstreet_web_3be4f49481002.jpg/dims/resize/178/optimize)
