Are NFTs still the future?
As KPOP labels continue to conjure up new ways to engage with fans and their wallets (had to say it), it seems there is a consensus around the new frontier for KPOP: NFTs and The Metaverse.
As HYBE and SM have recently made headlines for investing millions in the new foray to digitize KPOP, fans seem to be pushing back. Fans of KPOP have increasingly become conscious of our carbon footprint, and the health of the planet which does not bode well for NFTs as they are toxic to the planet as ether itself.
One instance of this is SUNMI, her label 'ABYSS COMPANY' on March 1, KST uploaded a letter explaining an NFT venture gone wrong. The letter tries to address fans' discontent by apologizing for not keeping the fandom informed, however, fans on Twitter were quick to point out that the label may be missing the point altogether.
Fans seem to not have any issue with SUNMI, or being informed of her schedules but the NFTs themselves. Many fans felt that they were off-brand for an artist as inclusive and conscious as her as well as that the label is misallocating resources and should instead be investing in her promotions as a musician because you know, she is a world-class pop star.
