KEY POINTS
South Korean K-pop group BlackPink is entering the non-fungible token (NFT) market with a new series on the digital collectible platform VeVe.
The NFT series, dubbed “BlackPink Light Stick,” is inspired by the flagship light stick designed by the group. The NFTs come in four color variations and aim to symbolize “support and unity for BlackPink and their fans.”
The most common version, the black and pink Light Stick, is limited to 2,890 editions. The Silver version includes 2,390 editions, the Gold one has 1,850 units, and the Diamond version is the rarest with 1,140 units.
The NFTs will be sold as a blind box, meaning buyers will discover which Light Stick they have received only after purchasing. Each NFT is priced at $25 and will be available starting May 26 at 8am PT.
Additionally, the series includes a “Stage” NFT, paying homage to BlackPink’s live performances. There will be 4,090 editions of this NFT, each priced at $50.
This NFT release is part of BlackPink’s ongoing efforts in the Web3 space. Last August, the group entered the Roblox metaverse with “Blackpink The Palace,” which allowed global fans to participate in virtual parties and interactive games.
This initiative is part of a broader trend of musical artists engaging with fans through Web3 technologies. For example, in December, the metal band Megadeth launched “Megadeth Digital,” an NFT collection of 5,000 unique tokens, offering fans exclusive real and virtual experiences.
The music NFT market has seen significant growth. According to Market Decipher, it was valued at $1.2 billion in 2021 and is projected to reach $42 billion by 2032.
