BTS, the globally renowned K-pop group, embraces Web3, as it has entered the decentralized space by tokenizing the copyrights to some of their biggest hits through the Story Aria protocol.
Story Protocol’s Tokenization ft. BTS
This partnership marks the acquisition of partial rights to their collaboration with Steve Aoki, “The Truth Untold,” and the plan to tokenize them. Note that, with this venture in place, Aria’s tokenized catalog has now expanded to 90 tracks, including contributions from top artists like BLACKPINK, Justin Bieber, Miley Cyrus, and more.
The expected annualized royalty yield for BTS’ music through this partnership is between 6% to 7%.
Interestingly, this isn’t BTS’ first venture into the crypto space. Their agency, Hybe, had previously partnered with South Korea’s Upbit exchange to release NFT photocards of BTS members.
“The Truth Untold,” is a track on BTS’ album Love Yourself: Tear, has been incredibly successful, topping the Billboard charts and surpassing 670 million streams across platforms like Spotify and YouTube Music.
As for Story protocol, its $IP token, which was launched on Feb 13, has seen a significant surge in value, up 34% in the past 24 hours and reaching a market cap of $1.6 billion within a month of its launch.
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