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Highlights
- Despite widespread public outcry, BTS plans to go ahead with producing NFTs.
- In the first half of 2022, the band members' NFT photocards will be released.
Popular Korean boy band BTS has stated that it will be moving forward with the NFT offerings keeping aside the huge criticism it has been receiving from across the world.
As per a media report, the majority of the criticism concerns the impact of energy-sensitive NFTs on the climate.
Recent Article: Inside the NFT market’s meteoric rise in 2021
Let's find out how BTS intends to proceed with non-fungible tokens (NFTs).
What is BTS's strategy for NFTs?
In a yet another move to get closer to fans, BTS has devised the strategy of producing NFTs. There are speculations that the band will come out with Jungkook, Park Ji-min, Jin, J-Hope, V, RM, and Suga's photocards.
HybeAmerica's project lead for the NFT business, John Kim, stated,
In addition, Kim also revealed that NFT photocards featuring members of the BTS band will be released in the first half of 2022.
BTS's move has elicited both positive and negative reactions from the public. While some are ecstatic about the NFTs' launch, others are concerned about the environmental impact of all the energy required to trade and mint the blockchain-based tokens.
The boy band had signed a deal with famous South Korea crypto exchange Dunamu in November.
Recent Article: Which metaverse cryptos made the headlines in 2021?
What is BTS's strategy for breaking into the crypto world?
Final thoughts
This year has seen a boom in the popularity of NFTs, which are digital replicas of sports cards, artwork, or other collectibles that have piqued the interest of investors worldwide.
Recent Article: What is cryptocurrency and why is it so popular?
