J-pop to Go Crypto with IEO-funded Idol Group to Debut in 2023

J-pop to Go Crypto with IEO-funded Idol Group to Debut in 2023
The Japanese idol group AKB48. Source: Dennis Amith (kndynt2099)/(CC 2.0)

J-pop is prepared to take the crypto plunge, with Japan’s largest pop producer set to debut a brand new “idol group” (a boy band or girlgroup) in the metaverse – a mission that will probably be funded by means of an preliminary change providing (IEO).

In a press launch, a Japanese crypto-pop crossover mission named Overse introduced that it might be working with Yasushi Akimoto, the nation’s high pop report producer and lyricist, on a mission that’s scheduled to launch subsequent yr.

Akimoto is the mastermind behind a number of the largest names in J-pop, reminiscent of Onyanko Club, Nogizaka46, and the AKB48 franchise.

Akimoto has bought nicely over 100 million singles, and is the best-selling lyricist in Japan. His success in creating all-female, chart-topping pop acts has been unparalleled in his native nation – and has even seen him contribute to the formation of South Korean lady group reminiscent of Iz*One.

J-pop/crypto crossovers have been on the rise in latest years, and Overse will hope that Akimoto’s Midas contact is not going to fail him when the group debuts subsequent yr.

Overse wrote that Akimoto would function the as-yet-unnamed group’s “general producer.”

It additionally wrote that the mission can be funded by means of an IEO, and that the group can be lively in “blockchain technology” and “the metaverse.”

The agency says that it hopes to go forward with its IEO in “early 2023” – and can start deciding on members of group in Spring subsequent yr. It hopes to finalize the group’s membership by Summer – with a debut to observe in Fall.

In a earlier press launch, the identical agency acknowledged that it had sealed an settlement with the home crypto change DMM Bitcoin and the crypto startup Coinbook. These two corporations will perform the IEO, with the sale seemingly to happen on DMM’s platform.

IEOs are nonetheless largely uncharted territory for Japanese exchanges, however a number of corporations are hoping to transfer into the house in the following few months – following regulators’ strikes final yr to formulate tips for the sector.

In Japan, “idol” teams refer to boy bands and girlgroups which can be recruited and managed by highly effective home expertise businesses. “Idol”-style pop teams have gone on to dominate the music scene in a lot of East Asia – culminating in worldwide chart success for the likes of South Korea’s BTS.

Compiled by Coinbold

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