BTS & BLACKPINK Fans Upset At NFT Company Due To Recent Scandal!
As the popularity of NFTs (Non-Fungible Token) have slowly risen, the audience for it has also risen and most recently, it has reached the K-pop audience.
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But one specific NFT company has received criticism and is under fire from fans of artists and K-pop artists. The company HitPiece is an online store that sells music as NFTs. Notably, NFTs are a type of cryptocurrency.
But artists and musicians have reported that HitPiece has been posting their original music to be sold, trying to make money off them, without their permission. But as per HitPiece, they note that each NFT is quite unique.
As per the HitPiece website:
"Each HitPiece NFT is a One of One NFT for each unique song recording. Members build their Hitlist of their favorite songs, get on leaderboards, and receive in real life value such as access and experiences with Artists. HitPiece is building for solutions for Recording Artists to be able to mint NFTs of exclusive songs that aren't distributed to commercial DSPs, monetise them in the metaverse, and providing [sic] unique ways for fans to interact with music."
Although NFTs in terms of music are appealing to fans of artists and K-pop artists, according to artists and musicians, HitPiece has no authority to sell their music. Thus, fans have demanded that HitPiece take down all of their music from their store.
A lot of popular artists have been affected by the website. Not just bug artists such as Drake but also Indie artists. K-pop artists have also been affected by the recent controversy.
Notably, K-pop superstars BTS and their song "Stay Gold," BLACKPINK Lisa's "LALISA," and DJ Snake, Ozuna, Megan Thee Stallion, and Lisa's collaboration song "SG" were a part of the list of songs on the store.
HYBE and YG Entertainment has not yet released any statement on the matter.
Additionally, K-pop artists have already dipped their feet with NFTs. Notably, A.C.E was the first K-Pop group to dabble with NFTs, dripping a collection of digital collectibles for fans in April of last year. At the time, the label Asian Agent defended their choice from criticism from fans.
Stay tuned for more news and updates regarding your favorite K-pop artists.