Momentica, a digital photo card exchange platform operated jointly by HYBE and Dunamu, found itself in hot water after attempting to use a singer's portrait without prior consultation with their management company.
In response to the controversy, Momentica issued a statement, acknowledging the problem raised by SM Entertainment regarding the unauthorized use of RIIZE's portrait in promotional posts on social media. The platform expressed sincere apologies to SM Entertainment and the fans for the oversight and lack of thorough review and consultation beforehand.
Operated by Levels, a joint venture between HYBE and Dunamu, Momentica focuses on the NFT business, allowing users to purchase idol NFTs using lemons as currency. These NFTs typically feature videos containing the idol's photo or voice, digitizing the traditional photo card highly valued within fandoms.
While Momentica has primarily featured singers from HYBE labels like Seventeen, LE SSERAFIM, and ENHYPEN, the inclusion of RIIZE from SM Entertainment caught attention as a notable collaboration. However, it was later revealed that SM Entertainment had not been consulted or involved in any discussions regarding the service or promotional posts.
An industry insider emphasized the importance of obtaining proper consent when utilizing K-pop singers' intellectual property, citing the growing economic value and significance of their IPs. Failure to do so not only constitutes infringement but also carries legal ramifications, highlighting the need for careful consideration and consultation before launching such services.
SEE ALSO: ENHYPEN dominates TikTok: #1 in Korea, Global sensation at #2
haninyojamokkta8 (Banned)-157 pts Wednesday, April 24, 2024 0Comment has been deleted