Concerts in Klaytn Metaverse soon!

• Kakao’s Klaytn is an Asian Blockchain network whose headquarter is in South Korea
• American Concerts is a US-based metaverse concert organizer looking forward to entering into the Korean music Industry 
• Klaytn is holding $3 Billion in terms of market capitalization, and its Crypto KLAY costs $1.38 at present

We see the collaborations between various companies, even from different industries, for their visions towards Blockchain technology and Crypto. Yet another partnership happened between Animal Concerts and Klaytn Blockchain network’s parent company Kakao. Both are looking forward to concerts, NFTs, and other Crypto related projects in the Metaverse.

Klaytn’s Blockchain network had been developed by Kakao, a South Korean unicorn company. The network launched in 2019 and is a hybrid working model of Blockchain, both public Blockchain and private Blockchain. Both the models have their specialties; being a public network makes it a decentralized and distributed governance platform while being private helps scalability. Klaytn’s ambitions are to expand globally and be the preferred choice of network for developers around the world. For that, it had planned a roadmap, which includes partnerships with different companies worldwide. Following the plan, it has now collaborated with Animals Concerts, a Metaverse concert organizer in the US.

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Animal Concerts is a concert organizer, but it’s not traditional; it will organize Concerts in Metaverse. It’s evident that it sees massive potential in Blockchain technology and Metaverse, and hence its highly interested in the project. The company will arrange and promote the concerts. It will issue cryptocurrencies, NFTs, and even merchandisers for the artists who will perform in the concerts; all this will happen in the Metaverse. They have already partnered with famous singer and actress Alicia Keys to promote her album. Animal Concerts, too, need a global reach to the artists and industries around the world to maximize its resources and place most artists and concerts in the Metaverse. So its plan includes the recent partnership with Klaytn Blockchain. With this, it will have a Blockchain network and its disruption in the South Korean Music Industry, which is already so popular globally and has an approximately $6 Billion market. 

The partnership between both the companies seems almost perfect as they fulfill each other’s voids and needs. Colin Fitzpatrick, CEO of Animal Concerts, stated that because of Covid-19, the music industry had suffered losses, and artists too faced cancellation of their shows; neither fans could reach at the concerts either. Colin thinks that Metaverse can remove those issues faced by the industry in many terms. Shows won’t be canceled due to pandemics, and many people could directly attend the show in the Metaverse. 

But Colin also doubts people’s reaction about the partnership because majorly private organizations back Klaytn. It raises the question, whether it is decentralized or controlled by the Board members as traditional tech companies do. Still, it will not be this much of a problem as many Blockchains out there are claimed to be decentralized owned by private organizations. This project might see success in its plan and be ready for it when it does. Soon you will be purchasing the NFTs of your favorite artist and enjoying the concert in the Metaverse.