Non-fungible tokens, or NFTs, are the newest craze in the world, with their popularity skyrocketing in recent months. Many companies, celebrities, and organisations have signed up for this type of digital-only token, which enables them to buy and sell digital art, collectibles, and other items. The most recent addition to this list is Bangtan Boys, also known as BTS. 

According to Bloomberg, Hybe Co, the agency in charge of K-Pop success, plans to work with South Korea’s largest crypto exchange operator to offer NFTs tied to the boy band, which has already taken the world by storm. 

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The agreement is fantastic news for millions of BTS fans worldwide. NFT will now be used by the agency to sell images of the boy band. This, however, is not a new occurrence. Fans frequently purchase photos of BTS members. Nonetheless, Hybe’s latest move is meant to keep up with the current trend of selling digital memorabilia using non-fungible tokens, or NFT. 

According to Bloomberg, Hybe plans to buy a 2.5% stake in Dubamu. This company runs the Upbit cryptocurrency exchange, South Korea’s largest of its kind. The share will cost 500 billion won (approximately $423 million). 

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According to information disclosed in the company’s regulatory filing on Thursday, BTS’ management agency Hybe would issue 700 billion won in additional shares to Dunamu.

BTS’ management agency, Hybe, would issue 700 billion won in additional shares to Dunamu, according to information disclosed in the company’s regulatory filing on Thursday. 

The picture cards of the BTS members will be available on Upbit as digital memorabilia and sold to fans via NFTs on virtual spaces. 

According to Bloomberg, Hybe founder Bang Si-hyuk stated in an online conference that the company is working with Dunamu to improve the fan experience.

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He stated that the company’s main goal is to create secure card ownership and allow them to be collected, shared, and displayed in a global fan community. Instead of a single photograph, it could be turned into a digital photo card with moving visuals and music. As soon as the news broke, Hybe stock jumped 7.5%, as BTS would be one of the major brands to enter the fledgling NFT trading sector.