Momentica, a non-fungible token (NFT) level created by Dunamu, the relation of Korea's fig 1 virtual plus exchange, and HYBE, is showing mediocre performance. This is simply a disappointing and achy effect considering that it is an ambitious enactment that Song Chi Hyung, the president of Dunamu, had planned.

Momentica is simply a level that trades virtual assets that can restrict users' transactions astatine immoderate clip according to the judgement of Levels (a associated task betwixt Dunamu and HYBE) and blocks surface seizure astatine the source. Analysts accidental that it is not good received by some crypto investors and idol fans due to the fact that it adheres to a centrally controlled operating policy.

According to the industry, connected January 23, a full of 1231 video takes (referring to integer cards made NFTs successful Momentica) based connected 30 antithetic concepts of LE SSERAFIM's 2nd mini medium 'ANTIFRAGILE' were released, but lone 40 to 60 video takes were sold.

For $12, you tin bargain a 'special video pack' containing 3 video takes, but lone 157 radical purchased it. Total income to day are estimated to beryllium astir 8 cardinal KRW (~6,497 USD). Considering that LE SSERAFIM's authoritative YouTube subscribers are at around 2.22 million, the request for these video NFTs among fans is lone a tiny fraction.

This seems to beryllium due to the fact that Levels tin workout steadfast power implicit idiosyncratic transactions. According to Momentica's terms, "Levels may, successful its sole discretion, determine whether oregon not to let you to commercialized definite oregon each takes with different users by providing oregon restricting entree to definite related features connected the Platform."

The presumption besides explicate that "Levels reserves the right, without anterior notice, to bounds the fig of Takes available, to discontinue usage of Takes, oregon not to marque Takes disposable to users."

Regarding this, a Levels authoritative stated, "In bid to behaviour transactions betwixt users wrong Levels, you indispensable spell done the KYC (customer identification) process. During the individuality verification process, if it is confirmed that determination are nary issues related to AML (Anti-Money Laundering), users tin trade, but members who bash not conscionable the ineligible standards cannot trade."

However, it is pointed retired that it is an excessive involution to exert power implicit the platform's idiosyncratic base for the crushed of individuality authentication without specifying the people of usage regularisation for 'users with issues.' There is besides disapproval that it is an expected effect that crypto investors bash not enactment successful a level that whitethorn infringe connected their spot rights according to the judgement of the operator.

Additionally, 1 of the astir significant variables to Momentica is BTS, which is the biggest power among HYBE artists. BTS has a important interaction connected their agency, and it is said that person RM had made a PPT (PowerPoint) presumption to HYBE executives to alteration the company's policies connected NFTs and it received favorable responses.

BTS's fandom, ARMY, has besides powerfully opposed HYBE's NFT business. They stated that erstwhile issuing NFTs, c is emitted and tin pollute the environment. This is wherefore Levels separately emphasized that it utilizes a low-carbon emanation blockchain that efficaciously uses small power. 

Also, determination are a important fig of fans who person joined the fandom aft seeing the photos, videos, and contented created by different fans. This besides reveals the closed quality of Momentica, arsenic Momentica blocks the seizure relation passim the app. An authoritative from Levels explained, "This is to support the rights of the app users and the artists' IP."

For NFTs, copying oregon capturing is not important, but the worth is generated by 'proving that the content is original.' Thus, HYBE and Dunamu are considering NFTs arsenic goods/assets. However, there is an valuation that raises doubts astir what benignant of method publication Dunamu, a 'blockchain specialist,' has made to Momentica and HYBE.

Lee Seok Woo

, CEO of Dunamu, said successful September 2022, "This is the concern that Levels is focusing connected the astir this year." Additionally, Chairman Song Chi Hyung was excused from the 2022 parliamentary audit for the reasons of a concern travel to the United States for the Levels business.