K-pop Girl Group TripleS Dances to Tune Fans Vote Via NFT-inspired Governance
The Korean pop music group allows fans to select which song titles make the cut in their latest album using Polygon NFTs known as “objekts” to collect voting tokens
Source: Shutterstock / Boontoom Sae-Kor, modified by Blockworks
K-pop girl group TripleS has launched its latest album using a non-fungible token (NFT) governance process — leveraging the Polygon blockchain —- to curate select parts of its creative decisions from expectant fans.
Fans had a say in determining the title track for the group’s eight-track album “ASSEMBLE” via a voting event known as a “Gravity,” according to a statement on Tuesday.
During the event, which takes place on the group’s official “Cosmo: the Origin” app, fans were able to vote using COMO, a type of currency obtained through exclusive NFT photo cards known as “objeckts.”
Those are then stored on Polygon Labs, Hashed and Near Protocol-backed Ramper, a Web3 non-custodial wallet that doesn’t require downloads, browser extensions or seed phrases.
Fans receive one COMO for every objekt they obtain. COMO, in turn, provides users governance voting rights for future activities of the group, including picking the names of songs that end up first on the list of future albums.
From Dec. 1-8, 2022, fans used the Cosmo app to vote between two songs each day in a tournament format. Song “Beam” emerged as the winner in the final round, making it the lead track of “Assemble”. Throughout the voting period, roughly 57,340 COMO governance tokens were cast, the statement reads.
Unlike DAOs whose voting takes place on-chain, COMO are collected and cast privately off-chain via the app which are later recorded at the end of the voting period.
In addition to picking which tracks make the cut, fans also get to participate in each season’s sub-unit of the group known as a “Dimension” — typically every three months.
A Dimension sees 24 members of the group rotating on an album-by-album basis to form a group within a group, usually comprising five to 10 members.
If a particular group manages to sell over 100,000 albums, its lineup and unit name are preserved, allowing select members from the pool of 24 to make a comeback. Otherwise, the group is disbanded and the process starts again.
Jeong Byeong-gi, CEO of Web3 project and promotor of TripleS, Modhaus, said during an interview with CoinDesk Korea last year NFTs were not the focal point.
“Rather than NFT-centered governance, we are trying to focus on creating a service that any fan can participate in,” he said. “If you do that, I think the value will be naturally given.”
Get the news in your inbox. Explore Blockworks newsletters:
- The Breakdown: Decoding crypto and the markets. Daily.
- 0xResearch: Alpha in your inbox. Think like an analyst.
