The Soneium platform, developed by Sony Group and Startale Group, has signed a partnership agreement with South Korean entertainment company DayOneDream to tokenize K-pop intellectual property and related revenues. DayOneDream manages artists such as BTOB, Lee Chae Yeon, MeMi, and 2F, and also organizes concerts and engages in music publishing. The partnership combines the WAVIST tokenization platform with the Soneium blockchain and will be presented at the WAVIST event in Seoul during Korea Blockchain Week on Tuesday. According to the agreement, fans will be able to receive tokenized participation in revenues from concerts, streaming, and music rights. Rights holders, in turn, will gain a new source of funding. Eligibility for participation will depend on compliance with relevant regulations.
Dylan Cho, Head of Real Assets at DayOneDream, noted: “K-pop is a market unlike any other, and the way capital reaches it has barely changed. Our partnership with Soneium is at the intersection of real assets, intellectual property, and K-pop, and it opens a real path to revenues through the intellectual property itself.” It should be noted that the parties did not specify when the first assets will be offered, which artists' intellectual property will be featured first, or the scale of the initial offerings.
In May, WAVIST completed the payout of a tokenized bond loan issued to finance K-pop intellectual property, and the corresponding tokens were destroyed. Previously, IP Strategy, a listed company that holds the Story token as a primary reserve asset, reported that the first WAVIST asset sales, organized with Korean company Kyobo Life Insurance and Singapore's SBI Digital Markets, raised $3.22 million and that a $15 million fund is being created. It is also worth noting that Startale, co-developer of Soneium, closed a Series A funding round of $63 million in March with contributions from SBI Group and Sony Innovation Fund, primarily to scale Strium, the tokenized securities blockchain. Yuji Kumagai, Head of Protocol at Soneium, added: “K-pop is a great place to start, and we will continue to bring more entertainment intellectual property to Soneium.”
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