On the 2nd, Modhaus revealed that Vice CEO Baek Kwang-hyun recently announced at “Token 2049 Singapore” his plan to pay part of the settlement amounts for artists, including tripleS and others, in cryptocurrency.
“We want our artists to try out the blockchain system behind Modhaus’s platform ‘COSMO’ and also give them a chance to invest wisely. This new way of paying artists will be the first of its kind in the global entertainment industry and a step toward the Web3 era.”
Modhaus also recently launched “Objects,” special photocards that mix physical and digital features. Fans can get and keep these cards through the official COSMO app, and even trade them with each other.
They also set up a system where money earned from Objects is counted separately and paid to the artists first. People see this as a meaningful step to fix unfair payment issues that have been a problem in K-pop.
Modhaus said artists will get their payments in Bitcoin or Ethereum, based on the profit split agreed with them.
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