SM Entertainment founder Lee Soo-man talks the metaverse and his ‘Future Vision of K-Pop’

Lee Soo-guy, founder and Chief Producer of K-Pop giant SM Leisure, delivered a speech at Stanford University on Friday (Could 20) at a meeting celebrating the 20th anniversary of Stanford University’s Korea Method.

SM Amusement artists contain the likes of aespa, as nicely as NCT, Red Velvet, Tremendous JUNIOR and EXO, who’s member Suho also gave a speech at the occasion.

Other attendees at the conference bundled previous UN Secretary-Standard Ban Ki-moon, former UN Ambassador Kim Sook, and former EU Ambassador Park Joon-woo. 

Lee’s speech centered on the “Future Vision of K-Pop,” in which he broke down the ideas of what he calls the “Play2Create (P2C)” ecosystem, in which he encourages lovers, or ‘prosumers’, to develop information working with SM-similar mental assets (IP) to deliver profits.

He states that, in just this blockchain-dependent ecosystem, which he says sorts section of a “new” creator economy, “anyone can use the primary articles IPs to love and develop new [content] yet again by recreation, and produce revenue”.

Extra SM’s founder: “Original material will be transformed back again into Recreatable Contents [sic] that prosumers can newly create, and will turn out to be the basis for many long run artists, creators, and prosumers who attempt to accomplish their goals of innovation and generation.”

He also elaborated on the ‘SM Society Universe’ (SMCU).

SMCU is a character-led universe that resembles cinematic universes like these established by comedian giants Marvel or D.C.

Back again in June 2021, SM Amusement CEO Sung Su Lee described that it “can be believed of as SM’s metaverse, inviting K-pop fans all over the environment to appreciate our music and stories through different platforms”.

In other places in the speech, Lee recounted his roots as “the initial mover” in the K-pop sector, and how the tunes expanded globally. He also shared his predictions for the style, and Korean common tradition as a whole, as it continues to increase in attractiveness all over the entire world. He refers to K-Pop’s globalization as “Hallyu”.

SM’s founder explained to the audience that, “from the get started, the goal of K-Pop was globalization” and that he set up SM Leisure in 1989, “with the perception that the earlier historical past of ‘Economy 1st, Culture Subsequent Next’ can rather turn into ‘Culture Initially, Economic climate Next’. 

He explained that he then developed what he phone calls a “systematic [production] and administration system” for Sm Entertainment artists.

“If you dream alone, it’s just a desire but if we desire the very same dream with each other, it’s the commencing of a new potential. Which is how we commenced to broaden overseas.”

Lee claimed that he then “discovered and manufactured global stars from individuals with potential and made articles named SM Pop, identified these days as K-Pop, and advised our SM workers in 1997 that, ‘Now, we’re heading abroad’.”

Included Lee: “If you desire alone, it is just a desire, but if we desire the very same dream alongside one another, it is the commencing of a new long run. That’s how we started to expand overseas.

“In the course of action of growing the spectrum of actions and territories from Asia to Europe to the United States, I concentrated on earning Hallyu not just a very simple kind of export but a continuous, world movement that can accumulate national wealth. I labored to come to be the very first mover.”

MBW listened to his overall speech. Right here are a few issues that stood out…

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Lee Soo-man says that “Culture Technology” – a term he coined – is “the advancement engine” of K-Pop…

Lee Soo-man elaborated on, what he suggests is, SM’s “systematic [production] and management system”.

He claims that he coined the phrase ‘CT’ to explain this technique. It stands for ‘Culture Technology’ and he claims that it lets his corporation “to move in a systematic way”.

Lee clarifies even further that he “decided to codify the total method of generating tradition into a variety of technological innovation by developing a components and manualizing it, whilst repeatedly recording its enhancement course of action alongside with the knowledge and techniques involved”.

“SM’s [production method] has turn out to be a model for making K-Pop.”

Lee extra that he structured the program into 4 levels, of casting, teaching, material output, and internet marketing. “With this, I developed my have [production method] called Society Technological innovation, which systemized the management program,” he claimed.

He described even more that this so-known as ‘CT’ technique is the “growth engine of K-Pop” and is also “SM Entertainment’s fundamental operating system”. By means of the method he developed, he statements that “K-Pop has turn into a multi-disciplinary form of artwork material that’s global”.

Added Lee: “Now, not only Korea’s artists and contents, but its [production] system has also been acquiring significant ranges of interest globally.

“SM’s [production method] has grow to be a design for making K-Pop, and SM’s CT will develop to become [the] CT of the globe. The Future of Tradition Technological innovation is the basic eyesight [of] SM Enjoyment. And now, I am making a new cultural ecosystem by evolving CT from a tradition-making technological know-how to a cultural ecosystem-making technology.”

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SM’s founder says that, “by combining blockchain and metaverse know-how,” the company’s content will “surpass time and space”…

In October, we wrote about how the SM Culture Universe (SMCU), a character-led universe akin to cinematic multiverses like those people produced by comedian giants Marvel or D.C., is at the centre of SM’s written content approach.

In his speech past week, Lee commented more on his eyesight for SMCU.  He explained that inside of SM’s Tradition Universe, “all the ‘worldviews’ of SM artists will combine”.

He added that this “worldview, eyesight, and blueprint” is one particular that SM has been making ready for, for a extended time, “with the hopes that K-Pop and Hallyu will not just be a trend of one technology, but articles that’s liked forever”.

“By combining blockchain and metaverse technologies, SM’s contents will grow into material for anyone, and surpass time and room to provide to everyday living this long run amusement era that’ll link by way of tradition.”

Lee claimed that he coined a different time period, ‘Metaversal Origin Story’ and has “been getting ready the Origin Tales and worldviews of [SM’s] artists for pretty a while”.

Added Lee: “All the worldviews of our SM artists will occur jointly in a huge-scale virtual worldview referred to as ‘Metaversal Origin Story’.

“By combining blockchain and metaverse technological innovation, SM’s contents will develop into articles for anyone, and surpass time and space to convey to lifestyle this future amusement era that’ll hook up by way of culture.”

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He believes that the so-termed ‘Play2Earn’ and ‘Play2Create’ business enterprise styles will variety element of a new Creator Overall economy, exactly where lovers can produce income employing IP furnished by SM

Lee spoke of what he calls the “Play2Produce era” and the “Play2Earn” product. SM’s founder would like supporters to develop their individual material impressed by SM material, and deliver income in the process.

He said for the duration of his speech that “we are residing in a metaverse in which prosumers can voluntarily re-develop and spread content” and argued that, “through the Recreation of [content] by these prosumers, who take part and create as creators, the worth of [the] authentic articles increases”.

“Just like how society began and advanced as we shifted from an agricultural culture to a far more stable economic system, participate in pursuits will shortly develop into artistic things to do in a P2C period.”

In February, SM Manufacturer Marketing and advertising (SMBM), a subsidiary of SM Amusement, signed a Memorandum of Being familiar with with cryptocurrency exchange Binance to develop a “comprehensive partnership” to build, what they get in touch with, a worldwide Participate in2Develop (P2C) ecosystem.

The partnership will start off in the NFT sector, enabling supporters to “recreate written content and merchandise in the types of online games, audio, dance, and items,” by applying “the tools and IP offered within the e-commerce and metaverse platforms”.

SM explained in February that this will enable “users to make gains whilst also attaining recognition for their [own] originality”.

In his speech at Stanford, Lee stated: “The Participate in2Gain product – participating in game titles and earning revenue – a lot more typical in blockchain, is a design that is only the commencing stages of the internet and metaverse”.

He added: “Just like how lifestyle commenced and progressed as we shifted from an agricultural culture to a far more secure financial state, engage in functions will shortly grow to be innovative actions in a P2C era.”New music Business Worldwide