[Asia Economy Reporter Jang Hyowon] Cube Entertainment (hereinafter ‘Cube Ent’), which established the joint venture AnimocaBrands and AnimCube Entertainment (hereinafter ‘AnimCube’), announced on the 29th that it will participate in the paid-in capital increase conducted by Nestree Media Group Co., Ltd. (hereinafter ‘Nestree’), a blockchain technology specialist company.
Cube Ent aims to acquire shares of the NFT information platform Nestree to secure blockchain and NFT specialized technology and create synergy between Cube Ent and AnimCube’s blockchain businesses.
‘Nestree Media’ started as a reward-based messenger service and currently operates IT-based blockchain technology specializing companies with decentralized wallets and reward commerce Nestree Mall based on blockchain reward systems. On March 21, it announced the expansion of its business area by launching an NFT aggregator service. The NFT aggregator service is an NFT portal site that allows users to conveniently search and view vast data on NFT markets and products from the user’s perspective.
‘Nestree’ is linked with Animoca’s partners such as Opensea and Foundation, and has partnerships with Dunamu (Kakao) blockchain technology research subsidiary ‘Lambda256’, the blockchain service platform Luniverse of Cube Entertainment developed in-house, and Samsung Blockchain Wallet.
Cube Ent CEO Ahn Woohyung said, “We are very pleased to work with the IT-based blockchain technology specialist company ‘Nestree.’ A foundation has been laid to actively create core services that are essential in the blockchain-related technology and NFT market, and we expect that Nestree’s blockchain-based reward system will have great synergy with the entertainment industry where fandom is important.”
He also expressed the ambition that “Cube Entertainment will continuously discover new service models based on blockchain technology in promising future industries and leap forward as a leading company in the industry.”
According to Cube Ent, Nestree is scheduled to provide technical support for Cube’s The Sandbox project, which recently announced the purchase of land on the global metaverse platform ‘The Sandbox’ to spread K-Culture globally.
Cube Entertainment plans to continue discovering new service models based on blockchain technology in promising future industries and leap forward as a leading company in the industry.
Meanwhile, Cube Ent opened official SNS (Twitter, Instagram, Discord) channels for ‘AnimCube’ on the 24th and announced detailed information about the first NFT airdrop event to be held on April 5. Before creating the music metaverse ecosystem, they plan to pre-release NFTs to raise global fans’ expectations and activate the AnimCube project through various events in the future.
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