In a recent Upbit Developer Conference (UDC) at Busan Port International Exhibition & Convention Center, HYBE America President Jason Lee spoke about personal data ownership, blockchain, and NFTs.
As the keynote speaker, Lee shared that the hype in the NFT market is similar to the mobile market in the early 2000s. He believes that NFTs have the potential to become a valuable digital asset.
The president pointed out the challenges surrounding blockchain and NFT adoption. Lee said the public will adopt Web3 once they know how to control, manage and monetize their personal data.
While talking about personal data, Pres. Lee said, “The current ecosystem is based on a data brokerage economy as opposed to a data ownership economy.”
“If users can freely select the use of their data, I think it will lead to a decentralized data personal economy,” he added, reported by Korea Joongang Daily newspaper.
The event was held by Dunamu, the company behind Korea’s biggest crypto exchange, Upbit. The company has also partnered with HYBE to expand its NFT endeavor in K-pop fan culture.
HYBE America’s President sees quite a potential that they will become part of our daily lives with a lot of utility, just like mobile phones. “We are still in the early stage of the NFT market.”
According to him, NFTs can be a useful tool for securing and trading virtual assets online. HYBE is currently in the works to make this vision come true with Dunamu.
Based on various sources, HYBE has partnered with Levvels to introduce NFTs soon inspired by their signed artists such as BTS, SEVENTEEN, TXT, Justin Bieber, and Ariana Grande.
The UDC conference in Korea was also attended by other speakers including The Sandbox’s COO Sebastien Borget and Tron founder Justin Sun who also spoke on the potential of metaverse and NFTs.
On the occasion, Sebastien introduced the attendees to the potential of The Sandbox’s metaverse platform for job opportunities and creatives. Other speakers also shared the utility of Web3 projects.