A South Korean entertainment provider, Z-POP Dream Project, is currently planning on using blockchain technology in finding the next K-Pop (South Korean popular music) talent and to create a brand new entertainment platform.
According to its website the Z-POP Dream Project addresses three main problems that are going on in the music industry but often go unnoticed by the vast majority of the public: 1) Dreamer problem: hidden talents are not given a chance. 2) Fan problem: Fans are left out in the process of creating a star. 3) Music industry problem: a high barrier to enter stardom on a global scale. They aim to answer these problems with the following approach: 1) Discover and nurture hidden stars. 2) Empower fans to grow stars and 3) Grow stars into global stars.
The plan is to build an international entertainment network that will scout and support new talents for the $ 46 billion music industry. Z- POP will integrate the Ethereum blockchain into award ceremonies and audition which will allow fans to vote for their favorite entertainers.
Aside from additional transparency, this project is also aiming to discover new talents and continuously nurture them throughout their careers and grant more power to the fans in supporting their idols.
The company also plans on having a “star creation” platform where aspiring entertainers from 10 regions: Korea, Hong Kong, Japan, the Philippines, India, Indonesia, Vietnam, Malaysia, Taiwan, and Singapore can participate in the Z-POP Dream Auditions. Another part of the platform will be the “Star Academies”.
According to the CEO, Jun Kang, this will make the global music stage more accessible for artists seeking to showcase their talents.
As a testament to the project’s success, k-pop acts such as WannaOne, Girls’ Generation, BTS, Big Bang, 2NE1, Boa, TVXQ, EXO, and PSY have gone global.
For 2018, the project fortified its partnership with the state-owned People’s Television Network Inc. from the Philippines and Viva Entertainment Inc.
To support the infrastructure, the project has announced an initial coin offering that is set to begin in October. This ICO will also develop a global monetization platform that will tokenize revenue through merchandise, concert tickets, and admission to events purchased by fans.
At whitelist, the token price will be at 1 ZPOP for $0.08. There will be a $10 million soft cap, a $100 million hard cap, and a total supply of 4 billion tokens.