Animal Concerts, a metaverse concert organizer, has recently partnered with South Korea’s Klaytn blockchain network. This coincides with the organizer’s plans to develop its exposure to the Korean entertainment industry and begin Klaytn’s plans for global expansion.
Klaytn announced the news on January 10, explaining that it expects its partnership with Animal Concerts to improve the number of NFT trading on the platform. Klaytn is one of three blockchains with native support on the largest NFT marketplace, OpenSea. However, it has the lowest trading volume out of the three options. Kakao, Klaytn’s parent company, also has plans to develop and launch a brand-new NFT and Metaverse platform called Kakao Games.
Animal Concerts plans on organizing and promoting concerts within the Metaverse. Not only that, but it also plans on creating non-fungible tokens (NFT) and merchandise for world-renowned artists. This isn’t Animal Concerts’ first collaboration either, as the US-based brand already sealed a deal with Alicia Keys to promote her KEYS album.
Colin Fitzpatrick, the CEO of Animal Concerts, believes that NFTs could be an excellent way to improve revenues for the music industry, especially for those who lost quite a lot since the pandemic started. Thanks to COVID-19, artists had no choice but to cancel their shows and tours, causing them to lose out on revenue, not to mention the ability to interact with their beloved fans live.
By holding concerts in a safe and disease-free universe such as the Metaverse, artists could benefit so much by changing the way the audience experience concerts and preventing them from feeling disappointment due to a canceled show.
In an interview with Cointelegraph, Fitzpatrick said that it makes sense to work with Klaytn since the major goals of the South Korean network involve NFTs and the Metaverse.
