[Asia Economy Reporter Hyunseok Yoo] Beauty Bakery announced on the 27th that it has signed a stock transfer agreement to acquire shares of the entertainment company Zenis C&M as part of its entry into the metaverse market and business diversification.
Beauty Bakery, which has launched cosmetic brands such as Secret Age, Oat Cuisine, Miwoonori, and Stay Young, and has grown its core business through TV home shopping broadcasts, duty-free shops, and overseas exports, recently introduced blockchain technology to develop a payment service usable both online and offline. Additionally, as a new business, it is preparing an NFT platform business where ownership and sales history information are stored on the blockchain.
Accordingly, Beauty Bakery explained that it acquired shares of Zenis C&M, a global entertainment company with subsidiaries in Japan, China, Hong Kong, and the Philippines, which is broadly engaged in various fields such as film and drama production, media production, entertainment news, and entertainment.
Zenis C&M’s subsidiary, Number One Media Group, acquired in this deal, is a global content company composed of experts in video media business, performance production, brand marketing strategy, and entertainment. It has partnerships with major entertainment agencies in Thailand and Vietnam, positioning it as a company with the potential to grow into a global entertainment company based in Southeast Asia, making it an ideal partner for the NFT platform business.
Recently, through auditions, they debuted the global groups Z-Stars, Z-Boys, and Z-Girls. They planned the Z-POP DREAM project audition, introducing a participatory audition where fans worldwide directly vote to discover global idol stars.
Also, on August 18, the 8-member girl group ‘PoshGirls,’ composed of girls from Korea and Japan, is set to debut.
Kim Hak-sik, CEO of Beauty Bakery, said, "Through this contract, we expect momentum for the NFT platform service business linked with K-Beauty and K-POP, which we have been preparing." He added, "K-Beauty secures uniqueness for each product by NFT-izing the cosmetics distributed by Beauty Bakery, allowing verification of authenticity on the blockchain network."
Along with this, the company plans to develop and distribute digital goods using NFTs, including photos, videos, and sound sources of stars through collaboration with K-POP stars. They also plan to provide digital NFT products, concert tickets, and admission passes to be used within the metaverse.
He emphasized, "NFT technology, which guarantees ownership in an unreplicable way, will be a new solution for many companies suffering from numerous counterfeits. We expect significant synergy in the K-POP metaverse service through the contract with Zenis C&M."
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