Modhaus is a Korean pop startup that is aiming to launch the world’s first K-pop artist created and operated by fans!
Based in Seoul, South Korea, Modhaus, a K-pop NFT startup, is gaining a lot of traction in its Pre-A investment rounds. Popular companies like Naver, CJ, and Future plat are interested in this NFT K-pop entertainment agency startup.
Overview of Modhaus
On the 19th, a Korean startup invested in a promising NFT platform that focuses on the K-pop market. Naver, a D2 startup Factory (D2SF), which always looks for investments in various new content businesses, is the one company that invested in Modhaus. The investments took place in the Pre-A round. Other than that, the CJ group is also making aggressive investments in the K-pop-related content field.
Future Play also has its first investment in Modhaus in its “Future Play New-Entertainment Fund.” This entertainment is newly funded that focuses on the content market. In other words, the Future play New Entertainment fund is where domestic and overseas companies participate as investors. As a result, their investments in Modhaus will lead to targeting other content markets.
Modhaus CEO Jeong Byung-gi is introducing a new business model that targets the K-pop market using “participatory idol.” On top of that, they are also planning to release the world’s first fan-participating girl group.
What is Modhaus?
Naver, which is a K-pop training organization, has invested in an NFT and blockchain-based content platform. It is known as Modhaus and is operated by K-pop fans. They are developing a platform where fans participate in the entire process. The fans solely operate these procedures. Modhaus has a one-to-one connection between blockchain, NFT, and the fans from trainee selection to creating the concept.
Modhaus follows an open architecture entertainment ecosystem where fans and idols can interact. It is possible with the combination of IT technology and the metaverse. As a result, Modhaus will have a two-way idol project where fans will be heavily participating in content production.
A social game will also be added to the metaverse of the new girl’s group. This game will resemble the MZ generation, and fans can communicate within the content. In other words, the participation of the fans will directly affect the outcome of the artists’ performance.
Founded in 2021, Modhaus is also preparing for a Korean girl group project, “TripleS.” This K-pop group released its first teaser video by one of the members, Yoon Seo-yeori. The video is available on their official channel, SNS on YouTube. Moreover, they are planning to release other videos with the group.
Usually, agencies carry out all the processes of introducing artists, including selecting trainees and concept planning. However, things have changed with Modhaus and similar platforms. When agencies introduce new artists, the entire process of selecting trainees and concept planning also involves the participation of the fans. As a result, this platform allows decentralization of blockchain contents and the operation of their non-fungible tokens.
Modhaus is an intuitive approach that connects K-pop fans with their idol in a unique way. Jeong Byung-gi says that we are in the era of streaming music where fans connect with artists’ characters. As a result, we will create an experience that has never been seen before.