In October 2022, HYBE and blockchain technology firm Dunamu partnered to launch Momentica, a non-fungible token (NFT) platform where fans could purchase digital collectibles featuring some of HYBE’s popular artists.
BTS’ RM makes a presentation to convince HYBE to change their policies regarding NFT
Recently, several media outlets reported the low performance of Momentica. According to reports, BTS’ absence from the platform may also be considered a big variable for the company’s poor performance as they’re regarded as the most influential artists under HYBE.
According to AllKpop, BTS’ leader RM had made a PowerPoint presentation to convince HYBE officials to change the company’s policies on NFTs. Since the project was announced, most BTS fans (ARMY) opposed the idea of engaging with any NFT-related content because of high rates of carbon emission when issuing NFTs.
i thought WE support music @HYBEOFFICIALtwt? this very much disappointing. stop using fans, the environment and your artists for money #BoycottHybeNFT #ARMYsAgainstNFT https://t.co/Pf5RirMGBJ#BoycottHybeNFT
— bts⁷ (@Raseda0613) November 4, 2021
hybe going after money using bts’ name, not caring about nft’s harmful affect on the environment while the people they wanna use for money have been advocating for the exact opposite pic.twitter.com/jMn08ngcJp
— noemi (@cosmoskth) November 4, 2021
Following such reports, Levels (a joint venture between Dunamu and HYBE) separately emphasized on the fact that they use low-carbon emission blockchains.
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