asushi Akimoto, a Japanese record producer who has promoted girl groups AKB48 and Nogizaka46, is collaborating on a J-pop metaverse project with local cryptocurrency company Overs Co. Ltd.

While Overs did not reveal any details about the new J-pop band, he said that the metaverse would be funded through an initial exchange offering (IEO), in which a company sells new cryptocurrencies through a defined exchange to raise funds.

Overs will launch the IEO early next year, with the metaverse idol group set to release in the winter of 2023.

Prior to Akimoto's addition, Overs stated in an earlier press release that the metaverse band would perform traditional idol group activities such as releasing new music and securing concerts while utilizing blockchain technology and non-fungible tokens to interact with fans.

In his 40-year musical career, Japan's renowned producer and lyricist Akimoto has sold over 100 million copies worldwide, the greatest hits being a series of girl bands recognized for their perky concept and possessing 40+ members.

The country rich in intellectual property (IP) is no stranger to simulated musical performances. Hatsune Miku, a holographic artist, produced by a voice synthesizer, is still one of Japan's most prominent acts.

Meanwhile, neighboring South Korea's music industry is already deeply involved in the metaverse.

Aespa, a self-described "metaverse K-pop girl group" with four human members and four CGI counterparts, had their latest launch become the best-selling album by a female group in Korean music history.

HYBE Co., Ltd., BTS's entertainment agency, has formed a joint venture in Los Angeles with Dunamu, South Korea's Upbit crypto exchange operator. The Levvels joint venture intends to service NFT and metaverse offerings that use K-pop IPs.

The president of gaming giant Nintendo stated earlier this year that the metaverse is "of interest," while locally dominant mobile provider NTT Docomo revealed plans to offer metaverse services in the coming years.

Do you think that there will be more businesses in Japan eager to incorporate metaverse and virtual technology into their products? Let us know your thoughts by sharing this article on social media.

Sep 22, 2022
Digital Lifestyle

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