Web3 K-Pop company Modhaus announced the completion of an $8 million Series A round of financing, led by American venture capital firm Sfermion, with participation from SM Culture Partners, Laguna Investment, KDDI Open Innovation Fund III and Foresight Ventures.
It is reported that Modhaus was established in December 2021 to form the K-pop girl group tripleS through its NFT voting system. On Modhaus’ COSMO app, fans can purchase NFT photo cards, which can be used as voting tokens. Modhaus said that by collecting NFT format photo cards of their favorite idol members, fans can obtain practical tokens and participate in decisions related to group operations, such as member activities, lead songs, and the selection of album cover shooting locations. Modhaus’ goal is to introduce more blockchain-based application scenarios in the Korean entertainment industry. (The Block)