Are you interested in becoming a fan? If yes, then the first step is to earn digital tokens.

ㆍ’TripleS’ is the first Korean girl group to conduct activities based on fan votes using cryptocurrency.

ㆍ‘Modhaus’ is a company that has developed a platform for minting digital photocards into NFTs.

ㆍThe scarcity of NFTs can be used to create new revenue streams in the K-POP industry.

Idol of All Possibilities

The K-Pop industry is mainly driven by idols, who are the main protagonists. In Korea, Entertainment agencies usually create idol groups through long-term training and thorough planning. However, a girl group called ‘tripleS’ is breaking the mold by allowing fans to participate in the entire production process instead of the agency. Last year, tripleS debuted in Korea and has since been described as ‘idols of all possibilities’. Modhaus, a company, distributed the NFTs to official fans who support tripleS. These NFTs allow fans to make decisions about all of the group’s activities on mobile platforms, thereby presenting a new monetization model for K-POP.

Vote with your NFT

Have a look at Modhaus’ blockchain-based platform, COSMO. This platform offers digital photo cards of girl groups at a price of $2.99 each. When you purchase a card, you also get an NFT token called ‘COMO.’ Each token gives you the right to cast one vote, which you can use to shape your favorite girl group. Fans can use these tokens to decide on various aspects like the composition of the unit, title selection, album production, active members, direction of fan club activities, and even the concept of content shooting. The more digital photo cards you purchase, the more tokens you’ll have to influence the decisions about your favorite girl group.

Fan’s votes can change the fate of tripleS. There was an incident once, one fan changes everything. A Fan who purchased in large quantity of NFTs was able to change the group’s debut title track voting. Originally, the title track was losing to another nominee, but a ‘magnate’ fan who had purchased a large amount of tokens was able to sway the final vote by approximately 329 votes!

As tripleS is K-Pop’s first large 24-member girl group, the composition of the unit is of utmost importance. Fans get to decide the mix of members through intense voting, discussion, and alliances. They understand the importance of their vote more than anyone else. If you wish to support your favorite member, you can earn more tokens and vote.

Scarcity creates possibility

Unfortunately, COMO cannot be traded on crypto exchanges or personal crypto wallets; it can only be used on Modhaus’ platform. However, imagine if there were no such restrictions and the digital tokens earned on the platform could be transferred to your wallet. For instance, if I purchased a painting featuring TripleS on the platform and earned NFTs for it, these NFTs could be used as a means of creating value. NFTs are virtual assets that are scarce and unique in the digital world. Artworks can be issued with NFTs, enabling decentralized ownership and the sale of these assets by their respective owners. Similarly, idol merchandise with ‘digital certificates’ could be bought and sold at high prices in metaverse shops. In the future, the concerts of the next K-Pop superstar to succeed BTS could be held in a virtual world where NFTs are the norm. These concerts would have no borders, with fans from all over the world participating. The virtual venue could be bigger and more expansive than the largest stadium in the United States, Michigan Stadium, and it would be accessible from anywhere. The superstar performing the concert could even be a virtual human. However, tickets would only be available to fans who hold NFTs in the virtual world, creating scarcity that is irresistible to fans who admire the star. This scarcity has the potential to create endless possibilities.