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HomeUpcoming NFTNFTs may finally leverage India's fandom for Korean drama and music, which...

NFTs may finally leverage India’s fandom for Korean drama and music, which Indian brands have failed to cash in on

  • From concert tickets, language learning, albums, photobooks to online or face-to-face encounters, K-pop fans are serious about immersing themselves in the culture of idols.
  • Now, Non-substitutable token (NFT), owning a special item is always appealing to all enthusiastic fans.
  • K-POP fans, brand experts and NFT marketplaces will tell you everything you need to know about the next wave of K-POP NFT.

Korean singer Park Jae-san (PSY)’s song “Gangnam Style” swept the world
many The song streamed on YouTube was followed by the Korean wave or the birth of the Korean wave in India.

This global phenomenon was later triggered by music, movies and dramas, and became even more popular in India.

For most fans, the relationship with Korean culture began with popular Korean music (K-pop) and the biggest bands such as BTS, Blackpink, MonsterX, iKon, Big Bang, Twice and Red Velvet. .. Slowly, the attachment to the food they ate, the language they spoke, the makeup and jewelry they wore, created a very enthusiastic, loyal and lively fandom.

By research and analysis company
Statista A recent survey in India between the ages of 15 and 59, who experienced Korean cultural content, found that 34.4% of respondents found K-pop to be very popular.

Another of Statista
report Regarding Korean culture, the Korean music industry has stated that it achieved record sales of more than 6.8 trillion won and export value of more than $ 756 million in 2019.
This accounts for a significant 0.3% contribution to South Korea’s GDP.. In the same survey
The main reason for its popularity It was a catchy rhythm and chorus.

Indian digital content creator Radhika Bangia often dresses up as her favorite Korean character on Instagram, with 1.6 million people continuing. Her career, “Crash Landing on You,” clearly declares her love for Korean culture to the world.

It was her Korean best friend in New Zealand who introduced her to K-POP. When she came out with BTS’s song BoyWithLuv, Bandia was really crazy about music. She was a boys over flowers for her in the world of K dramas.

She says she was amazed at the speed at which K-Pop and K-drama grew in India.

“K-Pop / K-Drama is primarily a love-it or hate-it’s case (it’s very catchy, but I don’t know how you can hate it). Other K-Pop It’s a lot of fun to meet and interact with / K-Drama fans and see their enthusiasm, “Bangia said in an email reply to Business Insider.

Why Indian Advertisers Need to Take K-POP Fandom More Seriously

Fans of K-drama and K-pop have created various groups on Facebook.
Reddit, Telegram, Clubhouse, have a common love for Korean culture. Their loyalty to their favorite star is
rise K-Pop Twitter fancams, record-breaking YouTube streams, sold-out concerts and number of products.

According to Southeast Asian e-commerce aggregators, the iPrice Group, a dedicated member of the BTS army in Southeast Asian countries,
Consumable For an average of $ 1,422, this is the same as buying an iPhone 12 Pro. This average purchase includes at least 15 studio albums, 5 concerts, and a large number of merchandise.

NFTs could finally take advantage of India's fandom for Korean dramas and music.

K-POP fans in South Asian countries and around the world do not hesitate to spend money to support idols. This is the quality that brands demand from ambassadors. This means you can start a conversation between your big fan followers and your social currency.

BTS followers also
Online “Stan” culture, Superfans continuously promote and defend their idols using various online channels, especially social media.according to
twitterBTS is the most tweeted band on Twitter for 4 consecutive years.

But in India, only McDonald’s, a multinational food chain, has tried to take advantage of this huge Stan culture. Last April, McDonald’s launched BTS Meal in 11 Asian countries, including India.the Internet
exploded With a message from ARMY, BTS fan, McDonald’s.

Apart from that, I only see international collaborations with BTS such as Samsung, Coke and Hyundai.

Lloyd Matthias, a business strategist and marketing expert, explains why Indian brands weren’t caught up in the Korean wave. Marketers do not fully understand this phenomenon, more specifically because Indian brands need to enter into specific license agreements with them. For global brands such as Coke and McDonald’s, and Korean brands such as Hyundai and Samsung, this is clearly not a problem. ”

Banjia, a K-drama fan, was excited about the idea of ​​a fusion of the two cultures. “I personally want to see some Indian brands collaborate with BTS or BlackPink. I think it’s cool to see a mix of cultures!”

While Indian fans are obsessed with international collaboration and products available online, the unconditional love spread by ARMY and various K-pop fans opens up great potential for brands to attract new consumers. Offers.

Anjali Malthankar, Director of National Strategy for Digital Advertising Agency Tonic Worldwide, said: Indian fans want to be as close as possible to K-POP stars and have access to them. In fact, that’s what K-pop cracked on social media. They know what the fans want, and the whole model is to empower the fans and make their favorite stars more popular. I think live concerts, physical or virtual / experience could be a great platform for Indian brands to participate. ”

Meanwhile, Vijay Pravin Maharajan, founder and CEO of blockchain analytics firm bitsCrunch, can’t say that Indian brands couldn’t take advantage of their popularity due to the variety of opportunities for brands. I point out that it is fair. To attract the audience.

“Like South Korea, it’s important to remember that India is home to a thriving local entertainment industry and a melting pot of entertainment around the world. Among K-POP enthusiasts. Even so, there are certainly other genres and industries in which they are involved. It is unlikely that the average Indian K-pop fan will be engaged solely in this genre. Indian brands are almost continuous. You may go with the local entertainment and artists that are supplied to India, “says Maharajan.

Can NFTs be a place for fans to meet their deadlines?

Fans are not only art spectators and quiet fans, but also active stakeholders who do not get in the way to support idols.

From concert tickets, language learning, album purchases, photobook creation, to online or face-to-face encounters, K-pop and K-drama fans have no problems.
Immersion They themselves in the culture of their idols.

And non-fungible tokens (NFTs) are pushed towards an avid fandom.apart from
Potter head,
Swifties Fans, K-POP and K-drama enthusiasts who enthusiastically form beelines in front of Amitabh Bachchan and Shah Rukh Khan bungalows in Mumbai are one of the largest communities.

K-pop NFTs allow fans to own special collectable items that will be with them forever, even if they are transferred to another cloud. It will give them the opportunity to directly support their artists, show off their fandom and become part of a larger community.

So will K-pop NFT be the next big wave in the growth of Korean culture in India? Matthias, a leading brand, says so. “Many people are now able to“ own ”part of the Metaverse phenomenon, and I think NFTs can help take this to the next level. ”

Korean culture has a common culture in terms of eating habits, manners, and behavior, so it has successfully built a sense of connection and relativity with the Indian masses. NFTs allow fans of these two cultures to support their favorite artists.

Ramkumar Subramaniam, CEO and co-founder of the No-code NFT platform GuardianLink, said: BTS entered the bright red NFT space in November. Given India’s rapid adoption of NFTs as a way to build connections with their favorite artists, NFTs are expected to be the next big thing in promoting the penetration of Korean culture into India. ”

Sai KrishnaVK, founder of Scapic, a visual technology company also known for its cryptocurrency and investment content, said: Ownership, in some cases.

An industry like K-POP is the kind of technology product that wasn’t possible before, and it’s the biggest industry that will benefit from interacting, interacting, and having the opportunity to get closer to the star you’re idolizing. Will be one. ”

The first topic in the NFT world was by crypto investors. They finally found a medium for spending digital money. Now,
Prabhas As a K-POP fan, NFT attracts a wider variety of viewers and fandom.

Finfluencer Neha Nagar has talked about the growth of NFTs and cryptography in India. She believes that the introduction of K-pop NFTs in India will support both Korean culture and the adoption of NFTs.

“K-POP fans are a very strong community. Now all K-POP fans are forced to think about NFTs and actually buy them because of their love for K-POP stars. K-POP fans are already spending on goods and tickets to support the stars. NFTs that own k-pop will be called “proof of being a k-pop fan” .. In particular, genZ is even more attracted to NFTs, taking the NFT epidemic to the next level. This will be very exciting! ”

“As K-pop grows in popularity in India, moving music video production to the digital arena may be the way forward,” said Maharajan of Bit Crunch.

While K-POP fans are speaking out
concern Carbon torching NFT, various
label We have begun to work on launching a more environmentally friendly NFT.

Banjia is optimistic that K-POP fans will accept NFTs to support their favorite artists. “But my personal hope is to find a way to minimize the amount of energy a blockchain needs,” she adds.

K-POP has been able to expand internationally in recent years, and now with the advent of various K-POP NFTs, the future of the Korean wave in India can be seen.


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