WITCH, a cultural technology company, has formed an alliance with SBI Digital Markets, DOD, and Kyobo Life Insurance to launch one of the first institutional investment products in Asia directly linked to K-POP concert revenues. This unique initiative represents a decisive step in the union between regulated financial infrastructures and the growing global impact of Korean pop music. The first tranche of the product, named $CNCRT, was closed with institutional investors outside the United States, through SBI Digital Markets, a licensed digital partner in Singapore.
The operation centralizes the transformation of revenues generated from live concerts into real investment instruments, known as Real World Assets (RWA). Through its subsidiary MDW Finance, WITCH acted as issuer and structurer, paving the way for a new asset class: K-POP RWA in Asia. Unlike traditional digital assets, $CNCRT is backed by tangible revenue streams from two major K-POP properties: the Korea Grand Music Awards (KGMA 2025) and a world tour by a prominent K-POP solo artist.
This model, which combines economic profitability and cultural engagement, could revolutionize how cultural content is financed and valued. Min Joon Lee, founder and CEO of WITCH, stated that the launch marks “a turning point for global investors’ access to the value of K-POP.” The issuance of $CNCRT sets a precedent and could pave the way for similar initiatives in the future, fostering the creation of a secondary market for cultural and artistic assets in the region.
Source: https://wavist.io/blog/witch-partners-with-sbi-digital-markets-dod-and-kyobo-life-insurance-9aa48bf7
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