“Music will be more of something to be owned than something to be bought and shared.”

“Music will be more of something to be owned than something to be bought and shared.” Yonghwan Kim, CEO of Beatsomeone, recently spoke at the ‘2021 Seoul International Music Fair’ (MU:CON, hereby referred to as ‘MuCon 2021’) Future Session.

‘MuCon 2021,’ which celebrated its tenth anniversary in 2021, is an event organized by the Ministry of Culture, Sports, and Tourism and the Korea Creative Content Agency to aid Korean musicians in their international advancement. It is known as Asia’s largest worldwide music market. SBS MTV and the online YouTube channels ‘KOCCA MUSIC’ and ‘The K-POP’ broadcasted the event. Brave Girls, Heize, and Lee Hi were among the performers during the showcase.

Marketing Technology News: Bluewater Media Bolsters Digital Team with Hire of Executive Kristy Andreadakis

“It’s critical to discover and use a platform that is fully qualified”, Beatsomeone CEO Kim YongHwan added.

Beatsomeone’s CEO Kim introduced ‘NFT’ (Non-Fungible Token) as one of the new technologies that musicians in 2021 should be aware of at this occasion. “That’s because NFT, an irreplaceable digital asset, is becoming a big topic in the music industry around the world,” CEO Kim explained. “It can be a new revenue tool for bands and has more than just things for fans,” he noted.

CEO Kim emphasized ‘safety’ in relation to the NFT platform, which has recently received a lot of attention. In the music streaming era, music that had lost its value as distinct content has been transformed by ‘NFT.’ “It’s critical to discover and use a platform that is fully qualified,” he added.

Marketing Technology News: MarTech Interview with Gavin Laugenie, Global Head of Content at dotdigital

Meanwhile, CEO Kim runs Beatsomeone, a marketplace for music producers to sell their beats. Beatsomeone is a market platform that uses NFT technology to automate the sound source registration, sales, and settlement operations.

The block creation process and transaction details are clearly published in real time through Beatsomeone’s blockchain monitoring system. As a result, the exclusivity and uniqueness of the rhythm sound source offered by music composers are included, preventing counterfeiting or reproduction in digital content transactions.