Cube Entertainment Signs Strategic Business Agreement with Leading Global Blockchain Financial Investment Firm 'Republic'

[Asia Economy Reporter Jang Hyowon] Cube Entertainment (hereinafter ‘Cube Enter’) announced on the 30th that it has signed a Memorandum of Understanding (MOU) with Republic, a global financial investment and blockchain specialized advisory firm.

Status of investments including Republic. / Photo by Cube Entertainment

Following its recent equity investment in the IT-based blockchain company ‘Nestree,’ Cube Enter has laid the foundation to advance open metaverse projects in the global blockchain market alongside various partners through the MOU with Republic, a global blockchain investment advisory firm, together with AnyCube’s music metaverse business.

‘Republic’ operates a platform leading the retail funding investment industry in the US and Europe, where all investors can participate. It provides global advisory services across blockchain investment, including token design and economics, tokenized listings, funding creation, financial support, and marketing.

Successful collaborations include supporting the listing of Voyager tokens on various coin platforms, marketing them, and increasing the corporate token value by approximately 3 trillion KRW. Republic also contributed to the token design and economics of Chingari, India’s leading short-form video sharing platform, helping it become the most popular social media app in India.

Having successfully raised over $200 million in investments from renowned fintech blockchain venture funds and companies such as Galaxy Interactive, Valor Equity Partners, Morgan Stanley, Proserus, Algorand, Binance, and Hashed, ‘Republic’ established its Asian outpost in Seoul. Through the MOU with Cube Enter, it plans to accelerate its entry into the Web3.0 market related to the media and entertainment industries.

In particular, ‘Republic Asia’ has completed an investment in Korbit, where SK Square is the second-largest shareholder, and through collaboration with Cube, it is expected to focus on strengthening the entertainment ecosystem that allows K-POP and K-Culture to expand globally, including the North American market.

Lee Youngro, CEO of ‘Republic’ and head of ‘Republic Asia,’ expressed, "We are very pleased to partner with an innovative leader like Cube, which has an open mind toward next-generation technology. Through collaboration with Cube, we aim not only to create a new ecosystem centered on the democratization of finance but also to play a role in connecting K-Culture with the world through technological and financial innovation."

In addition, Cube Enter plans to strengthen the blockchain ecosystem within Korea by discovering promising projects and startups, providing technical support and investments. Starting with the equity investment in Nestree on the 29th, Cube plans to jointly develop various NFT-related blockchain technologies, collaborate, and expand participation in global communities.

Cube Enter CEO Ahn Woohyung stated, “We are truly pleased to collaborate with the ‘Republic’ operations team, which has participated in numerous mainnet projects in the early global crypto ecosystem and managed various global fintech companies and blockchain investment portfolios, as well as ‘Republic Asia,’ the specialized team for the Asian region. We can seek advice and secure funding so that Nestree and various partners can participate in the open metaverse ecosystem that Cube Enter is building, which greatly supports Cube’s progress toward becoming a Web3.0 entertainment company.”

Meanwhile, Cube Enter opened official SNS channels (Twitter, Instagram, Discord) for ‘AnyCube’ on the 24th and announced detailed information about the first NFT airdrop event scheduled for April 5th. Various events will be held ahead of the music metaverse launch.