Soneium Partners With DayOneDream to Develop Tokenized K-Pop Revenue Products

Sony-backed Ethereum layer 2 network Soneium has partnered with South Korean entertainment group DayOneDream to explore tokenized intellectual property and revenue products tied to the K-pop industry.

Partnership to Use WAVIST Platform

The companies plan to develop the products through WAVIST, DayOneDream’s platform for digitalizing and structuring entertainment-related assets. The initiative will focus on tokenized representations of K-pop intellectual property and related revenue streams.

Potential products could be linked to cash flows generated by concerts, music streaming and music rights. Tokenization uses blockchain-based digital assets to represent rights, interests or claims connected to underlying assets or revenues.

Investor Access Subject to Regulation

Future offerings may provide eligible investors with exposure to certain entertainment-related cash flows. However, the structure, availability and legal treatment of any products will depend on applicable securities, financial-services and digital-asset regulations.

No specific launch date, asset lineup or investment terms were disclosed. Soneium, an Ethereum layer 2 network, is designed to support blockchain applications with potentially lower transaction costs and faster processing than transactions conducted directly on Ethereum’s main network.