SEOUL – Com2uS, a game development and publishing company in South Korea, has strengthened its business capabilities in the global entertainment market with the acquisition of a 58.5% majority stake in MyMusicTaste, a platform One-stop K-Pop that provides concert organization services and allows fans to interact with artists
The financial conditions will be disclosed later. Com2uS said it would combine its global network with the power of MyMusicTaste’s platform to showcase more sophisticated and diverse performance content tailored to regional and fandom characteristics. MyMusicTaste with over two million users worldwide has hosted hundreds of concerts focusing on user requests.
There has been a drastic reduction in offline concerts due to a global COVID-19 pandemic, but MyMusicTaste has maintained strong growth with online performances and commerce. The acquisition reflects Com2uS’ efforts to lead the Hallyu (Korean Cultural Wave) market in line with the era of digital transformation.
Based on big data, Com2uS said it would discover and nurture the next generation artists. The two companies will promote new businesses such as performance-oriented Metaverse and non-fungible token (NFT) businesses. MyMusicTaste’s platform and content will be linked with Com2uS’ all-in-one metaverse platform so that various K-pop performances can be enjoyed via virtual reality.
NFT is a unit of data stored on a blockchain network of interconnected virtual ledgers and each NFT is certified by a blockchain as a unique digital asset. Entertainment companies have shown a strong interest in NFTs to turn artists’ intellectual property into digital assets that can be displayed and traded in fan communities.
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