SM Entertainment Joins $8M Funding for Web3 K-Pop Agency Modhaus

K-Pop powerhouse SM Entertainment, through its venture capital arm SM Culture Partners, took part in the $8 million series A funding round of Modhaus, a South Korean startup at the intersection of blockchain technology and the K-Pop industry.
 
The investment, led by US venture capital firm Sfermion, aims to further Modhaus’ goal of integrating blockchain into various aspects of the Korean entertainment world, crypto media group The Block reported Monday (November 13), citing a company statement.
 
The funding round also saw participation from other investors, including Seoul-based Laguna Investment, Japan’s KDDI Open Innovation Fund III, and Singapore-based Foresight Ventures, which recently acquired The Block.


​Source: Music Business Worldwide