NFT K-pop entertainment agency startup ‘MODHAUS’ attracts Pre-A round …
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MODHAUS, a K-pop startup based on NFT, announced on the 19th that it has attracted Pre-A round investment.
This Pre-A investment round, which took place 4 months after the accelerator of Hashed Startup Studio UNOPND earlier this year, was conducted by strategic investors. And D2SF(D2 Startup Factory), Timewise Investment (CJ Group affiliated venture capital), and Future Play participated together.
Naver, which is promoting various new content businesses as a leading platform in Korea, and CJ Group, which is continuing aggressive investments in the K-pop and content fields, participated in this investment. It is evaluated that an active strategic partnership between MODHAUS and the two companies is expected in the future.
Future Play also chose MODHAUS as the first investment of the ‘Future Play New-Entertainment Fund’, a new fund that invests mainly in the content market. The Future Play New-Entertainment Fund is a fund in which major companies in the domestic and foreign content market participate as LPs(investors), and is expected to help MODHAUS target various content markets in the future.
This round of investment by MODHAUS is evaluated by the industry as being only 4 months after the previous seed round investment, which shows the rapid growth of MODHAUS. Earlier this year, MODHAUS was recognized for its potential by receiving accelerating from UNOPND, a Hashed startup studio, a blockchain investment company.
MODHAUS is a K-pop startup established with the goal of building an 'open architecture entertainment' ecosystem, and is preparing for a new girl group project, 'tripleS'. TripleS is the world's first new girl group aiming to become a 'fan participation type' idol, and will be produced in a 'bidirectional' form rather than a 'unidirectional' idol produced by an agency. Using NFT and blockchain technology, fans can directly influence the content creation process.
TripleS, first girl group project of MODHAUS, released a teaser video of first member Yoon Seo Yeon on Triple S's official SNS channel on the 1st, and from the 9th, starting to release the 'Daily Content' such as the members' preparation process and daily life. In the case of 'Daily Content', it is the world's first attempt to broadcast daily shooting daily. MODHAUS plans to further raise expectations by releasing a domestic and foreign members sequentially, starting with Yoon Seo Yeon.
MODHAUS's core team is also made up of experts in K-pop, startups, and blockchain. Jeong Byung Gi(Jaden Jeong), who has already produced a number of idols such as Wonder Girls, Miss A, 2AM, 2PM, Lovelyz, and Loona at JYP, Woollim Entertainment, and Sony Music Korea, and CCO Kim Jong Soo, who oversaw the A&R for Dreamcatcher and Dalshabet, are leading the artist production. Vice President of Next Match, the operator of social dating 'Amanda', Vice President Baek Kwang Hyun, COO of Playlist, a domestic web drama studio, and COO Kim Ho Jin , CSO of UNOPND, a hashed startup studio, are leading the business and blockchain sectors.
Jeong Byeong Gi, CEO of MODHAUS, said, "This strategic investment attraction will go beyond the success of tripleS, the first global participatory idol, and will become the foundation for the future of MODHAUS, which will change the paradigm of the K-pop and NFT markets," "We expect Naver, CJ, and Future Play to go beyond simple investment companies and play the role of partners that can create a lot of mutual synergy in terms of platforms and channels.”
Naver D2SF leader Yang Sang Hwan said, “In the metaverse platform, content that can lead to active participation of the fan community is important, and NFT and blockchain technology are the basis for it,” and "MODHAUS is rapidly targeting the market by developing a content planning/production platform in which the fan community directly participates, and expects that there will be great synergy with Naver's various content platforms in the future."
Timewise Investment also expressed expectations, saying, “MODHAUS is an entertainment company that aims for an innovative business model in the k-pop field, and we expect to pursue various synergies with CJ’s k-pop business in the future.”
Future Play CEO Ryu Joong Hee said, “MODHAUS is a startup that can materialize Future Play’s belief that new business opportunities are created from the intersection of technology and culture," and "We will support the rapid growth of MODHAUS through collaboration with future play portfolio startups with various element technologies such as blockchain, AI, and video technology."
Maeil Business Researcher Jo Gwang Hyun [hyunc@mk.co.kr]
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