J-pop is set to make the leap into the crypto world, and Japan’s biggest pop producer will start a new “idol group” (boy band or girl group) in the metaverse, a project that will be funded through front. exchange offer (IEO).
In a press release, a Japanese crypto-pop crossover project was called Overlook announced that he would be working with Yasushi Akimoto, the country’s biggest pop music producer, on a project to be released next year.
Akimoto is the brains behind some of the biggest names in J-pop, including Onyanko Club, Nogizaka46, and the AKB48 franchise.
Akimoto has sold over 100 million singles and is Japan’s best-selling singer. His success in creating all-female pop music has been overwhelming in his home country, and has seen him contribute to the formation of South Korean girl groups such as Iz*One.
J-pop/crypto crossovers have been on the rise in recent years, and Oververse hopes Akimoto’s Midas touch won’t let him down when the group debuts next year.
Oververse wrote that Akimoto would serve as an as-yet-unidentified “general producer” for the group.
He also wrote that the project would be funded through IEO and that the group would be active in “blockchain technology” and “the metaverse.”
The firm says it hopes to proceed with its IEO in “early 2023,” and will begin selecting group members in the spring of next year. He hopes to end the group’s membership by the summer, and start coming after that in the fall.
In a previous press release, the same signature He said he had sealed a deal with national DMM Bitcoin exchange and crypto firm Coinbook. These two firms will conduct the IEO, and the sale is likely to take place on the DMM platform.
IEOs remain uncharted territory on Japanese exchanges, but a number of companies hope to enter the space in the coming months, following moves by regulators last year to draw up guidelines for the sector.
In Japan, “idol” groups refer to boy bands and girl groups that are recruited and managed by national talent agencies. “Idol”-style pop groups have come to dominate the music scene in much of East Asia, culminating in the international chart success of artists such as South Korea’s BTS.