South Korean web3 K-pop agency Modhaus raises $8 million in Series A

Modhaus, a South Korean blockchain-based K-pop start-up, has actually increased $8 million in its series A financing round led by Sfermion, a united state equity capital, to sustain its development to present even more blockchain-based usage instances in the Korean amusement globe.

The business stated in a declaration shown The Block that the financing round was likewise gotten involved by capitalists consisting of SM Culture Partners, Laguna Investment, KDDI Open Innovation Fund III and Foresight Ventures.

Founded in December 2021, Modhaus has actually developed tripleS– a K-pop lady team that has over 1.74 million subscribers on YouTube— via its non-fungible token ballot system. On Modhaus’ COSMO application, followers can acquire NFT photocards, which after that count as electing symbols.

“By gathering NFT-format photocards of their preferred idolizer participants, followers obtain energy symbols that allow them to get involved in choices connected to team …