The Abstract blockchain has announced a strategic partnership with open architecture K-Pop agency Modhaus.
The press release shared with Cryptonews notes that Modhaus’s fan engagement platform Cosmo will launch on Abstract. With this, the partners aim to bridge global entertainment and blockchain, they said.
Cosmo is a platform that enables millions of fans to collect digital collectibles and voting tokens, which they can use to vote on specific decisions. They can also collect digital photocards and complete interactive quests.
According to Michael Lee, Abstract co-founder and CEO, “Cosmo is exactly what Abstract was built for—a space where fans don’t just watch, they vote, collect, and move in sync with their favorite artists.”
Moreover, moving to Abstract will provide Cosmo and its users with faster performance and scalable infrastructure, the teams claim. Also, they gain simpler onboarding via an email, Touch ID, or Face ID.
“Fans will gain all the benefits of blockchain without ever needing to understand it,” the announcement says, as well as “deeper integration into a growing ecosystem of culturally relevant, consumer-first applications.”
According to Modhaus CEO Jaden Jeong, “fans deserve a real seat at the table—not just as viewers, but as participants in the creative process.”
The partnership with Abstract, he continues, will enable Modhaus to create an immersive and democratic standard for artist-fan interaction “without forcing fans to navigate the complexities of blockchain technology.”
A South Korean blockchain-based K-pop startup has raised $8 million in its series A funding round.
Modhaus announced in a statement today that the series A funding round has pushed their total fundraising to $12 million overall. The funding round was led by U.S. investment firm Sfermion, and included participation from other investors such as SM Culture Partners, Laguna Investment, KDDI Open Innovation Fund III and Foresight Ventures.
Modhaus is set on integrating additional…
9 Million Minted Photocards
Abstract says it has recorded nearly 2 million Abstract Global Wallets deployed, with a user base largely composed of Gen A and Z consumers with “discretionary spending power in high-GDP markets.” This makes the chain “a uniquely valuable platform for brands looking to activate digitally native, culturally fluent audiences,” it claims.
Meanwhile, launched in 2021, Modhaus is a South Korean entertainment company behind K-pop groups tripleS, ARTMS, and idntt. The company raised $8 million in a series A funding round in late 2023, resulting in a total of $12 million.
The team argues that “fans should hold more power over the production of their favorite artists.” It adds that “Modhaus will expand the role of fans from mere consumers to decision-making producers.”
Cosmo has so far seen 266,000 users, 9 million photocards minted, and 1.5 million monthly transactions.
Moreover, the partnership between these two companies comes as the multi-billion global K-pop fandom market continues to surge, powered by digitally native users.
When it comes to Modhaus’s groups specifically, tripleS has recorded 3.4 million followers and won Best New Female Artist at the major award show, the 2023 MAMA Awards. Furthermore, ARTMS hit #1 on Billboard’s Top New Artist Albums, seeing over 24 million streams on Spotify.
Abstract’s Lee concluded that “together, Cosmo and Abstract aren’t just tech—they’re the prototype for a new cultural operating system. One that brings back what the internet lost: fun, ownership, and unapologetic creativity.”
The Seoul-based subsidiary will merge with HYBE. Meanwhile, the parent company will focus on the entertainment side of business, specifically artist management.
According to AlphaBiz, HYBE stated that the goal of this merger is to “enhance management efficiency.”
The report further alleges that Binary Korea has been quite…
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