Hybe Co., the agency managing K-pop sensation BTS, will team up with South Korea’s largest crypto exchange operator to sell non-fungible tokens related to the band, ahead of plans to also release a video game co-produced by BTS.
The agreement involves Hybe buying a 2.5% stake in Dunamu, which runs the Upbit crypto exchange, for 500 billion won ($423 million). Separately, Hybe will issue 700 billion won of new shares to Dunamu, the company disclosed in regulatory filings Thursday.
