Studio Dragon will issue non-fungible tokens (NFTs) with its drama content for the K-drama metaverse. Studio Dragon has released several NFTs based on their television shows Vincenzo and Hotel del Luna.
With competing K-pop firms HYBE, SM, JYP, and Cube Entertainment announcing comparable endeavors over the last year, the Korean entertainment business is actively entering the metaverse race.
The entertainment sector in South Korea is going all out to embrace NFTs and the metaverse. The country's legislators face a challenging road ahead of them. According to the report, as part of its "Digital New Deal," South Korea plans to spend roughly $187 million to establish its metaverse ecosystem.
The Ministry of Science, ICT, and Future Planning of South Korea has disclosed that the country's capital, Seoul, will be taken into the metaverse to support the development of companies and businesses. By 2026, the government hopes to have built the world's fifth-largest metaverse market.