[Interview] Jongwook Hwang, CEO of Fandom Studio: “EternalMoon Project to Change the World with Music RWA”

The blockchain industry has recently seen a surge in business models utilizing Real World Assets (RWA). Various assets, both tangible (such as real estate and artworks) and intangible (such as films), contribute to a diverse investment portfolio are being tokenized, reshaping investment and revenue structures.

This innovative RWA model is now making its way into the music industry. A project led by key figures in the South Korean music industry aims to tokenize a Michael Jackson tribute album as an RWA initiative with a vision of making a positive impact on the world.

The project, named EternalMoon, is spearheaded by Jongwook Hwang, CEO of Fandom Studio. Hwang, who previously led the production of JYJ, is leveraging his experience and expertise to take on the global music market with a solid strategy.

Hwang has established a local corporation in Indonesia and is collaborating with Punkvism to develop EternalMoon. Punkvism is a leading entity in the Web3 blockchain ecosystem with extensive experience in RWA, NFTs, and digital asset-based projects, including its flagship Punky Kongz NFT Project.

*We interviewed Jongwook Hwang about the EternalMoon project’s status and future vision. 

– Can you introduce the ‘EternalMoon’ project?

EternalMoon is an RWA project centered around a Michael Jackson tribute album. Inspired by Michael Jackson’s humanitarian spirit and philanthropic legacy, the project aims to use music as a means to make the world a better place. Featuring around ten tracks, the album brings together world-renowned artists to deliver exceptional quality. Some tracks are crafted with the bold ambition of topping the Billboard charts.

EternalMoon also functions as a platform coin. Holders of this coin will not only invest in music but also gain access to future album, concert, and music-related RWA projects. A portion of the profits generated will be allocated to charitable and social contribution activities.

– The concept of RWA music is relatively new. Can you elaborate on the model?

RWA (Real World Asset) refers to the tokenization of physical assets. While it has been primarily applied to real estate, film IPs, and artworks, we believe it can be successfully implemented in the music industry as well. By tokenizing elements such as album production, copyrights, and concert revenues, EternalMoon allows global investors to participate with small investments and share in the profits.

The core asset of EternalMoon is the music UP behind the Michael Jackson tribute album, which will be tokenized on the blockchain to ensure a transparent and efficient investment and revenue-sharing structure. With Fandom Studio’s expertise in planning and production, we envision creating a community-driven business model where global fans directly participate.

– You are also planning a Metaverse concert. How will this be implemented?

The Metaverse concert is one of the project’s major initiatives. We were inspired by Travis Scott’s Fortnite concert in 2021, which generated massive revenue. Reports suggest that his virtual concert earned nearly ten times more than a traditional offline concert.

EternalMoon will establish a dedicated Metaverse concert venue, featuring performances by global artists on a virtual stage. Concert tickets will be issued as NFTs and will be purchasable with EternalMoon coins. This model allows global audiences to enjoy concerts at lower costs while providing artists with a new platform to expand their fan base. Additionally, investors can benefit from coin appreciation and ticket trading profits.

– Will the use of EternalMoon coin extend beyond albums and concerts?

Absolutely. As a platform and RWA investment coin, EternalMoon has tremendous potential for expansion across the music and entertainment industries. Beyond album releases and concerts, it could be used for merchandise sales, secondary copyrights, Web3 gaming collaborations, and other partnership projects. The coin may also be used for staking, offering additional rewards for holders.

A significant aspect of the project is philanthropy. Inspired by Michael Jackson’s lifelong commitment to charity, we plan to allocate a portion of the revenue generated through EternalMoon’s ecosystem to public welfare and charitable organizations. The goal is to harness the power of music for social impact and global outreach.

– Your experience producing JYJ seems highly relevant to this project. How does it influence your approach?

JYJ was a group that successfully promoted K-pop globally, driven by a powerful fandom. My experience with JYJ taught me invaluable lessons about how artists and fans can create synergy, as well as the key considerations when entering international markets.

With EternalMoon, we aim to leverage the power of fandom. The RWA model and blockchain technology enable fans to take an active role in investing and promoting the project. Given the strong interest from our community, I am confident that the project will attract significant early engagement. We will utilize all our expertise in music production, planning, and networking to achieve another milestone in the global music market.

– What revenue models can investors expect from EternalMoon?

The revenue model includes profits from album sales, streaming, concert ticket sales, and merchandise. While it follows a traditional music industry structure, the key difference lies in RWA tokenization, which allows profits to be transparently distributed in an automated and decentralized manner.

Additionally, investors will gain access to royalty payments from long-term copyrights and secondary licensing rights. The project also includes revenue streams from Metaverse concerts and NFT ticket trading, where royalties will be shared with creators and investors upon secondary sales. This model balances investment security with the potential for exponential digital growth.

– What technical preparations are being made for the Metaverse concert?

A successful Metaverse concert requires advanced graphic engines, server infrastructure, and user experience (UX) design. It is essential to create a space where artists and fans can interact immersively rather than simply streaming music in a virtual setting.

Fandom Studio is actively collaborating with leading global technology firms to build a Web3 entertainment platform. This includes a streaming system, large-scale user access support, and NFT-based ticketing and item transactions. We are also working closely with Punkvism to maximize synergy. Together, we aim to create a comprehensive platform that integrates music RWA investment, NFT trading, and fan community engagement.

– What is the ultimate vision for EternalMoon?

Our ultimate vision is to change the world through music. Just as Michael Jackson’s music inspired and united people, EternalMoon seeks to establish a new era of music investment and consumption while driving social impact.

RWA is inherently a community-driven business model. Investors become fans, fans actively participate in marketing, and profits are shared collectively. Additionally, a portion of the profits will naturally be directed towards charity and social contributions. This creates a sustainable ecosystem where music fosters both cultural and economic value.

In the future, we plan to expand EternalMoon coin’s use to more artists, albums, concerts, and festivals. The ultimate goal is to build a Web3 music playground within the Metaverse, where global audiences can enjoy music, invest, and generate income simultaneously.

– Any final message for our readers?

EternalMoon is a groundbreaking initiative that connects fans and investors through RWA technology. Drawing from my experience with JYJ, I am determined to drive a new transformation in the music industry. While blockchain, RWA, and the Metaverse may still be unfamiliar concepts to some, the global movement toward digital assets and virtual spaces is accelerating rapidly.

By harnessing the power of music and technology, we believe EternalMoon has the potential to grow into a revolutionary global platform. We invite everyone to join us in shaping this future and seeing how music, technology, and social contribution can come together to create something truly extraordinary.

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