Seoul, South Korea – K-pop startup Modhaus has secured an additional US$8m in funding for the advancement of its blockchain model, Cosmo, aimed at enhancing fan engagement through the purchase of digital tokens.
This funding brings Modhaus’ total fundraising to $12 million, with key investments coming from Sfermoin, SM Culture Partners, Laguna Investment, Globalbrain (KDDI), and Foresight Ventures.
The fresh capital infusion aligns with Modhaus’ strategic vision to transform Cosmo into the K-pop equivalent of platforms like LinkedIn or Kickstarter.
Modhaus, distinct in its approach, empowers fans to directly impact and uplift artists rather than merely consuming content. Utilizing blockchain technology, the Cosmo platform enables fans to acquire digital photocards that also function as voting tokens. This innovative funding will further drive Modhaus’ commitment to revolutionizing the landscape of fan-artist interaction in the K-pop industry.
They also added that Cosmo aims to empower fans to actively participate in significant idol group-related decisions.
Jaden Jung, CEO and co-founder of Modhaus, said, “K-pop fans possess keen insights. With their sharp eyes for talent and trendspotting, we aim to enhance artist value through amplified fan involvement.”
Meanwhile, Joseph Baek, EVP and co-founder of Modhaus, commented, “Superfans are emerging as pivotal players in the music sphere. Strengthening the direct connection between fans and artists not only elevates the fan experience but also introduces a new level of engagement.
