Ava Labs brings intellectual property management to K-pop industry
According to a market report from Allied Research, the South Korean pop music industry will be valued at $20 billion by 2031.
Ava Labs, the company behind the layer-1 Avalanche blockchain, is leveraging its network to provide intellectual property management solutions to South Korean K-pop artists.
According to a report from Allied Research, the K-pop industry is projected to reach a $20 billion valuation by 2031—a figure that includes ticket sales, sponsorship deals, and merchandising.
Speaking to DL News, Justin Kim, the head of Ava Labs in South Korea, outlined the need for artist protections and how blockchain technology could offer unparalleled transparency and efficiency for artists who are often underpaid by recording companies.
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Author: Vince Quill
