Since the release of BTS Real Bangtan Dinner, HYBE has seen an alarming drop in stock value and brand reputation. Korean media also predicted that if HYBE did not have a backup method, their decrease would continue when BTS enlisted.
Recently, according to information in the industry, HYBE is rushing to promote new plans to recover revenue from the BTS hiatus incident. These are also said to be preparation steps to fill the revenue gap from BTS's enlistment in the future.
According to industry sources on the 27th, HYBE is in the final stages of launching two new platforms in July. The expansion of new business areas in July is seen as a major turning point for the group.
The first is 'Weverse 2.0', which integrates with Naver V Live and adds new functions. An HYBE official revealed, "Weverse 2.0 will not only add V-live functions such as live video streaming but also add new services".
He continued: "These include fan letter writing to artists, creating and decorating own space, and communicating with other fans. HYBE aims to unveil a new service first in July and complete the full function by the end of the year. "
The second is an NFT exchange platform being prepared through a joint venture (JV) with Dunamu. An official from HYBE explained, “The NFT exchange, which is being developed with Dunamu, is also preparing to launch in July. HYBE and Dunamu formed a joint venture in the United States earlier this year."
Specifically, "Both the company is focusing on NFTs that will be distributed around the fandom community, not the crypto community at large."
This is said to be HYBE's mid-and long-term strategy to create synergy by linking the two businesses. Both Weverse and NFT exchange platforms can expect a large number of users and a revival effect.
In addition, in addition to economic recovery by promoting fandom development platforms, HYBE also has artists under them who are also expected to regain economic strength such as TXT, Seventeen, LE SSERAFIM, ENHYPEN,... HYBE America and Ithaca Holdings also own famous pop singers Ariana Grande and Justin Bieber, which are also said to be a good back-up for the space of BTS.
