J-pop is ready to take the crypto plunge, with Japan’s biggest pop producer set to debut a new “idol group” (boyband or girlgroup) in the metaverse – a project that will be funded through an initial exchange offering (IEO).
In a press release, the Japanese crypto-pop crossover project is named Over announced that it will be working with Yasushi Akimoto, the country’s top pop record producer and lyricist, on a project slated for release next year.
Akimoto is the mastermind behind some of the biggest names in J-pop, such as Onyanko Club, Nogizaka46, and the AKB48 franchise.
Akimoto has sold over 100 million singles, and is Japan’s best-selling lyricist. Her success in creating chart-topping female pop acts is unparalleled in her home country – and has even seen her contribute to the formation of South Korean girl groups such as Iz*One.
J-pop / crypto crossover has been on the rise in the new yearand Overse hopes that Akimoto’s Midas touch will not fail when the group debuts next year.
Overse wrote that Akimoto will serve as the group’s yet-to-be-named “general producer.”
It also writes that the project will be funded through an IEO, and that the group will be active in “blockchain technology” and the “metaverse.”
The company said it expects an IEO in “early 2023” – and will begin selecting group members in the spring of next year. It hopes to finalize the members of the group by the Summer – with a debut to follow in the Autumn.
In the previous press release, the they really are announced that it has closed an agreement with domestic crypto exchange DMM Bitcoin and crypto startup Coinbook. These two companies will conduct an IEO, with the possibility of selling on the DMM platform.
IEOs are still uncharted territory for Japanese exchanges, but many companies hope to move into the space in the coming months – after regulators last year’s move to formulate guidelines for the sector.
In Japan, “idol” groups refer to boybands and girlgroups recruited and managed by powerful domestic talent agencies. The “Idol”-style pop group has dominated the music scene in much of East Asia – culminating in international chart success for South Korea’s BTS.