Lee Soo-man says "K-pop will establish a new creator ecosystem with metaverse"

K-POP / 연합뉴스 / 2022-05-21 17:11:23
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▲ This file photo shows "Korean Studies Conference" held at Stanford’s Bechtel Conference Center in California, United States. (PHOTO NOT FOR SALE) (Yonhap)

 

 

SAN FRANCISCO, May 21 (Yonhap) -- K-pop, which has been gaining huge popularity around the world, will further expand its ecosystem with advanced technologies, such as metaverse and blockchain, in the future, according to Lee Soo-man, the chief producer of SM Entertainment, on May 20(U.S. Time).

The producer made such a business plan through the keynote address during the session of "The Future Vision of K-pop" at the "Korean Studies Conference" held at Stanford’s Bechtel Conference Center in California, United States.

He said, "We are establishing a new cultural ecosystem,” adding, "SM's metaverse, which combines the worldviews of all SM artists, or 'SM Culture Universe,' is a worldview, vision, and blueprint that has long been prepared with the desire for K-pop and Hallyu to be loved forever, rather than just a craze of the single generation.

Producer Lee explained that this SM Culture Universe is a world where the prosumers(an individual who both consumes and produces) voluntarily recreate and spread the contents apart from the original contents produced by SM.

For example, people already consume a lot of videos that recreate the performances or music videos of K-pop stars on YouTube and TikTok, and SM Culture Universe will become a space for such recreation activities.
 

▲ This file photo shows "Korean Studies Conference" held at Stanford’s Bechtel Conference Center in California, United States. (PHOTO NOT FOR SALE) (Yonhap)

Producer Lee said, "We have accumulated the origin story and worldview of our artists for a long time," adding that the group EXO's Suho has the ability to control water.

He said, "The worldviews of all SM artists will be combined into the “Metaverse Origin Story,” a mega virtual worldview, and all contents of SM will have an infinite expansion to everyone's content in collaboration of blockchain and metaverse technologies”

Lee also mentioned, "I think the highest level of human nature is creativity," adding, "We are building a new “play-to-create(P2C)” ecosystem, where people can perform economic activities through creation."

The producer plans to share the copyright of SM's original contents in order to smoothly operate the ecosystem and allow people to freely use intellectual properties(IPs) to engage in second creative activities through smart contract.

Then, he added, "The creator economy, where prosumers, the K-pop fans, are given the contents that can be recreated and enjoy creating the new contents while making profits, leading the creative works to eventually become economic activities, will be revitalized.”

Lee introduced, "In order to establish a P2C cultural ecosystem, SM is working with Binance, the world's largest cryptocurrency exchange, while creating non-fungible tokens(NFTs) or joint fund and performing technical consulting.

Moreover, the producer announced that he is creating SM's exclusive theme space "SMTOWN LAND” as well as SM’s own metaverse on the metaverse platform Sandbox.

(END)

 

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