Internet behemoth Naver Corp., based in South Korea, partnered with LINE NEXT on Wednesday to debut its NOW.Drops non-fungible token (NFT) platform. Fans of K-pop music will be able to design unique NFTs using the site.
Users can create NFTs of their favorite musical acts using NOW.Drops by cropping them from the unique content on NOW., a live audio and video streaming service from Naver that mostly showcases South Korean artists.
Users must buy “crystals” in order to mint and preserve the exclusive clips of their favorite performers, which can also be used to buy other NFTs on the platform.
NOW. Users of LINE’s e-wallet DOSI, which accepts payments through social media accounts, can access Drops using that platform.
K-pop girl group NMIXX hosted an exclusive comeback showcase on NOW during the launch, as well as an NFT airdrop event on the brand-new platform.
The massive mobile app developer LINE Corporation, based in Tokyo, is owned by Naver and the Softbank Group. Its NFT subsidiary is called LINE NEXT.
In addition to managing the K-pop group BTS, HYBE Co., Ltd. is establishing a music NFT platform in the United States with Dunamu, the company behind Upbit, a South Korean cryptocurrency exchange.