️‍️Entertainment: Onboarding Cultural Masses to Web3

[Music] so hello everyone in Abu Dhabi I'm yunju today's moderator so we were going to have exciting discussion about web three and entertainment so before we start please introduce yourself including your name company and what you do hello my name is Joseph uh co-founder of modhouse uh mous is uh functions both as an entertainment agency and a platform developer and operator so as an um entertainment agency we manage two girl groups uh tripl s and emis and as a um platform company we developed and operate kosmo which you can um you can access to all the contents of our artist um collect and trade nft photo cards participate in votes and share fan created uh contents uh I'm happy to be here and thank you for inviting me to this event hello my name is Hing Kim and I'm the CEO of binary a subsidiary of Hive Hive is your world world famous entertainment platform company that represent globally famous artist such as BTS 17 l and Hyun and tomorrow by together and so on and binary is developing the onchain engag Proto onchain engagement protocol as H we3 arm and we are actively developing and preparing initiatives to web3 M adoption additionally through our own our own Creator Phantom platform DS we are um we are building the foundation for web3 application in the entertainment industry and nice to meet you all yeah so I want to ask you first tell us how your company is using web 3 in the entertainment industry I know mod house already have started so Joseph first yes uh we invented nft in photocar format which is familiar to kPa fans they like to collect and trade physical photo cards and we invented it in nft format uh until now we we have about 200k users on our platform and we have minted 4.8 million nfts so far uh within 2 and a half years um about uh about 2 years ago when we first uh released our application uh fans cast about 10,000 foots to decide uh which member will be in the first unit members and uh about September August August this year about uh 1 million vote was cast for uh choosing the members who will be participating in Japanese album release so uh showing a lot of increase in participation and engagement from The Phantom and high binary also preparing right so something mean could you share your experience yeah binary is driving Innovation and economic growth in the entertainment industry through Ai and blockchain among our initiatives the onchain engag protocol is to be kind of marketing solution for expanding the Phantom economy not only it in h economy but also entire entertainment industry and now we are working closely with coinbase for web M adoption through various project using Ai and blockchain um since applying blockchain to K-pop directly is actually something fan generally dislike so we believe that uh it's really important to gradual and natural approach is really important for us so with the focus on user experiences only we are carefully integrating the advantage of web 3 while avoiding the use of web 3 specific terminology and we are trying to avoid some kind of bad bad reputation of web3 in in the entertainment industry and so we are aiming to highlight only the benefit of the blockchain technology especially with AI since we are strongly believ that AI can also um provide some kind of strong benefit uh integrated with a blockchain side okay thank you and next question I want to ask you Joseph in Korea Trip s girl group of mous made a news headline when they started receiving payment just after their riew is little bit uncommon in Korea so I know that CMO platform is in the beh hi so could you explain how the digital economy has influenced entertainment companies Revenue model it seems like there also have been a change in fan participations uh we established the company to solve the paino in the Kpop industry uh which the first was was the food manipulation Scandal so in the uh Nationwide audition program the voting research was manipulated by by the main PD and he has been sentenced to 3 years in jail and uh by utilizing web3 technology we ensure that we can uh provide transparency in the voting process and the second issue was the um profit sharing uh structure unclear profit sharing structure because uh the government had guideline of seven years of contract for the artist and the entertainment agency and during that period uh we have to give transparent uh profit sharing to the artist if not you you can be the contract can be terminated by artist so the second issue uh we know how many cars were minted for the each me for each member and that's how we invented this structure profit sharing structure with the with the own chain data and S Hive is Korea's largest entertainment company and I wondering why hi become interested in Creator industry and what's the biggest difference between DS and Weavers as the gap between the Creator market and Kon Market continues to fade away creators now have more freedom and can even connect with existing kpop among the various entertainment sectors I strongly believe that Creator Market is the most decentralized and most open 123 adoptions this this makes a highly valuable for the future and the fully of potential of growth this is why we are uh generate uh this is why we are choose to start our web three Journey with the Creator Market first but expand it we will also expand not only for Cape Creator Market but also Kpop Market as well compared to weers Theos focus on individual media creators and artists who need to generate their own Revenue actively incorporating web3 and AI technology currently weers Focus solely on web to but we plan to connect both RSE and DS through onchain engagement protocol yeah for the introduction of DS I would like to present a videos so could you play the video about the DS introduction [Music] [Applause] [Music] w he yeah we already developed this dios Creator Phantom platform and we are preparing for the global launch of dios so many kind of Creator can easily on board our platform and get experiences the web3 bus model as well so yeah I hope that many people will enjoy with this platform we are developing wow amazing I should be try to be a Creator too yeah so next question I want to ask you B I know DS will introduce a digital economy ecosystem in the future and mod house already been because you're thinking about WB from the beginning so please tell us potential benefits and risk associated with the interest introduction of vory elements Joseph you first ensuring transparent foing process and establishing a clear profit sharing structure can be uh advantage of utilizing web Tre technology as I mentioned earlier but when we started our business about 3 years ago there was a huge resistance from the fans uh to nfts so what we really focused was to develop this uh platform as a web to service so you can uh easily access with email address and you can purchase nft with Fiat including credit cards and all the gas fees are um paid by mod house so those were the risks that we um faced when we started our business and we um solved it developing and designing it as a web to service and how about you sh um yeah um in the web three industry I think it's really important to identify the user is your real fan dra not so in order to identify the user is real fan or not we are currently developing onchain Eng protocol onchain Eng protocol is a blockchain wallet based fandom fandom engagement Market Mar solution and through the onchain engagement protocol we aim to identify through fans and reward them after analyzing not only from onchain data but Al of chain data ensuring that uh fans have positive experiences with blockchain and AI Technologies while applying web 3 to DS is really important our primary focus is expanding phandom economy through web3 and AI so we are not targeting just for us but also we are targeting more fandom platform to connect more bigger fandom economy through our own chain G protocol so for the onchain Eng protocol I also would like to show you the introduction video about that could you play this the introduction video for o [Music] he [Music] [Applause] [Music] okay thank you it will be uh our last question so Joseph can you briefly introduce how web three Rory technology um changing H changing Korean KB industry so how the popularity K is now extending Beyond Korea and Asian culture so how about your opinion how does a web stre platform facility connection with fence International markets on our platform about 80% of our revenue is generated from outside of Korea intern International markets uh 34% from USA and Canada uh 20% in Korea 11% in Greater Chinese area and 10% from Japan so you can see a lot of transactions and all the uh engagement from from the outside of Korea and uh the domestic fans and international fans also going in uh join the uh Discord Channel and they're discussing about the next uh voting strategy for the next uh voting event so I think the platform was connecting all the uh International fans together to discussing and enjoying this uh platform as a uh social game powered by web3 technology thank you our time's up so thank you for you guys joining us our discussion thank you thank you very much thank you very much [Music]