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Animoca Brands, Cube Entertainment officially establishes joint venture ‘AniCube’

Hong Kong – Hong Kong-based game software and venture capital company Animoca Brands and South Korean entertainment company Cube Entertainment have announced the official establishment of their latest venture called AniCube Entertainment, which aims to build a music metaverse, and issue non-fungible tokens (NFTs) and ecosystem tokens based on the intellectual property rights of Cube Ent’s globally popular K-pop music artists and actors.

The partnership was first announced in November 2021, and also entails AniCube bringing Cube Ent’s artists to The Sandbox, a decentralised gaming virtual world and a subsidiary of Animoca Brands.

Yat Siu, co-founder and executive chairman of Animoca Brands, said, “As a fan of K-pop and Korean culture, I am thrilled to contribute to AniCube, a JV that will guide K-pop music creators and fans in the open music metaverse and help them to enjoy true digital property rights and the other benefits of blockchain and NFTs.”

Meanwhile, Woohyung Ahn, CEO of Cube Entertainment, commented, “With the support of Animoca Brands, the music metaverse created by AniCube will be global and open, and will play a leading role in the global music industry to protect the rights of IP holders and content creators related to music sources. We look forward to the ways in which Cube Ent’s highly talented artists will help to build the open metaverse.”