UK markets closed
  • FTSE 100

    7,018.60
    -140.92 (-1.97%)
     
  • FTSE 250

    17,972.69
    -359.00 (-1.96%)
     
  • AIM

    833.59
    -13.83 (-1.63%)
     
  • GBP/EUR

    1.1189
    -0.0251 (-2.19%)
     
  • GBP/USD

    1.0857
    -0.0398 (-3.54%)
     
  • BTC-GBP

    17,598.79
    +278.31 (+1.61%)
     
  • CMC Crypto 200

    434.61
    -9.92 (-2.23%)
     
  • S&P 500

    3,693.23
    -64.76 (-1.72%)
     
  • DOW

    29,590.41
    -486.27 (-1.62%)
     
  • CRUDE OIL

    79.43
    -4.06 (-4.86%)
     
  • GOLD FUTURES

    1,651.70
    -29.40 (-1.75%)
     
  • NIKKEI 225

    27,153.83
    -159.30 (-0.58%)
     
  • HANG SENG

    17,933.27
    -214.68 (-1.18%)
     
  • DAX

    12,284.19
    -247.44 (-1.97%)
     
  • CAC 40

    5,783.41
    -135.09 (-2.28%)
     

Dunamu looks to K-pop group BTS NFTs to beat ‘Crypto Winter’

·1-min read

Dunamu Inc., the mother company of South Korea’s largest crypto exchange Upbit, will focus its future endeavors on Levvels, its Los Angeles-based non-fungible token (NFT) joint venture with Hybe Co., Ltd., the entertainment agency behind K-pop group BTS.

See related article: Dunamu’s NFT venture with BTS’s HYBE to launch services later this year

Fast facts

  • Song Chi-hyung, the founder and chairman of Dunamu, said at Thursday’s Upbit Developer Conference 2022 (UDC 2022) event that Dunamu will strengthen and drive its business forward with three core services: Upbit crypto exchange, Upbit NFT exchange and Levvels.

  • Song added that the driving force to overcome the “Crypto Winter” is different applications of blockchain and crypto such as decentralized finance (DeFi), NFTs and play-to-earn (P2E), according to local media reports.

  • Lee Sir-goo, Dunamu’s chief executive officer, also said at the same event that he is most invested in the launch of Levvels; Lee sees Levvels as an opportunity for Dunamu to expand overseas.

  • Levvels is expected to offer services related to NFTs based on the intellectual property (IP) of K-pop artists. HYBE currently manages high-profile K-pop acts such as BTS, Le Sserafim and ENHYPEN.

  • Dunamu and HYBE own 65% and 35% of Levvels, respectively.

See related article: Naver and LINE launch NFT platform for K-pop fans