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Metaverse concert organizer Animal Concerts has partnered with Korean unicorn Kakao’s Klaytn Network to increase its exposure in the Korean entertainment industry and to facilitate Klaytn’s global expansion plans.
January 10 announcement From Klaytn explained that the partnership between Klaytn and Animal Concerts is expected to help Klaytn increase the number of NFTs traded on the platform. Klaytn is one of only three blockchains with native support on OpenSea, the largest NFT marketplace, but with the lowest transaction volume. Kakao, the parent company of Klaytn, is also planning NFT and Metaverse Platform Called the Kakao game.
Animal Concerts will organize and promote concerts in the Metaverse and plans to issue a cryptocurrency, non-fungible token (NFT), as well as merchandise from top recording artists. The American brand has partnered with Alicia Keys, promote Her album KEYS.
Colin Fitzpatrick, CEO of Animal Concerts NFTs may be one way Add revenue to the music industry that has been lost since the start of the Covid-19 pandemic.Artist experience shows and tours Cancel Lost income and the ability to connect with fans in a live environment. Hosting concerts in a pandemic-free metaverse could revolutionize the way concerts are experienced, preventing the disappointment of canceled shows while reducing touring costs.
Fitzpatrick told Cointelegraph that partnering with Klaytn was a natural fit, as “Klaytn’s primary goal is NFTs and Metaverse.”
He also wants more exposure to the $6 billion Korean music industry entertainment market:
“Korean entertainment will be a big deal for animal concerts.”
Fitzpatrick noted that while “technical limitations prohibit how many people can actually attend a concert in the Metaverse” due to current scalability issues, he hopes to build a network of virtual venues on the existing and new Metaverse platforms to resemble Touring way to hold concerts. “It’s hard to get the first few projects going, but eventually they’ll start coming to us,” he said.
Klatyn is a large enterprise-backed blockchain, but Fitzpatrick dismisses concerns about decentralization.Clayton Governance Committee Includes 30 mostly corporate entities, including Shinhan Bank, LG Electronics, Netmarble, and crypto-based entities Maker and Binance.
related: eToro Launches Smart Portfolio for New Metaverse Investors
From Fitzpatrick’s perspective, there may be some critics of decentralization, but “there are a lot of blockchains that are not as decentralized as advertised.”
He also believes that there are also advantages to corporate entities participating in the blockchain space:
“I don’t think people fully understand how blockchain is going to work with the backing of such a behemoth.”
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