Neopin Signs Business Agreement with NFT Platform Metabit... "Meet Mamamoo NFT"

[Asia Economy Reporter Seungjin Lee] Neopin announced on the 1st that it has signed a business agreement with the non-fungible token (NFT) platform Metabit to strengthen its blockchain business utilizing entertainment intellectual property (IP).

The two companies plan to actively utilize entertainment IP to lower the entry barriers for the public to blockchain and expand its base, laying the foundation for popularization. They will cooperate across the entire business spectrum, including exchanging information on core technologies and services such as multi-chain network support and expanding the token ecosystem.

Metabit, scheduled to launch in the fourth quarter, is a service that distributes music content IP in the form of NFTs using blockchain technology. Representative examples include issuing NFTs such as works using artists' portrait rights or fan art, and supporting mutual trading functions through its own marketplace. It plans to build an F2E (Fan to Earn) ecosystem that provides various forms of rewards to artists and fandoms.

To this end, it has signed strategic partnerships for joint business with nine companies including RBW, which houses ONEUS, Oh My Girl, and MAMAMOO, as well as Woorinet, ContentsX, Studio Jam, WM Entertainment, DSP Media, TR Entertainment, Beats Entertainment, and J Storm.

After the launch of the Metabit service, Neopin plans to link the Neopin wallet so that NFTs of artists who have built global content power and strong fandoms can also be found on the Neopin platform. The strategy is to actively expand users by establishing a virtuous traffic cycle between the F2E ecosystem and the Neopin DeFi platform. DeFi products related to Beat tokens, the base currency of Metabit, will also be launched in the future.

Through blockchain technology cooperation with Neopin, Metabit plans to accelerate the transition of the entertainment industry's Web2 fan base to Web3 and enhance platform transparency through the exchange of security-related policies such as Know Your Customer (KYC) and Anti-Money Laundering (AML) introduced by Neopin. It will also broadly cooperate with Neopin in building a business model linking music IP and NFTs.

Neopin CEO Jihwan Kim said, “Through the business agreement with Metabit, we can utilize entertainment IP with strong global content power on Neopin,” adding, “We will expand Neopin’s global influence through K-pop related IP such as MAMAMOO and Oh My Girl owned by Metabit and actively promote the popularization of blockchain services.”

Metabit CEO Stephanie Kim said, “Compliance and technical safety are top priorities in building a multi-chain environment that is easily accessible to users, which is why we partnered with Neopin,” and added, “We will develop and introduce various service models with Neopin to provide transparent and diverse benefits to Metabit holders in the future.”