NFT platform Dunamu cuts talks with JYP Entertainment

It has been reported that Dunamu has cut NFT talks with JYP Entertainment.

As reported last year, the NFT blockchain exchange platform Danamu partnered up with HYBE Labels to establish a joint corporation focused on NFTs. It was also announced that the platform was simultaneously in talks with JYP Entertainment for a joint NFT business.

However, on April 17, media outlets reported that Danamu has completely severed its ties with JYP Entertainment. Insiders are especially interested in "why the platform would terminated its contract while keeping its business with HYBE Labels."

Unconfirmed information has been circulating due to this issue, as Danamu had initially embarked on a joint venture with both entertainment companies . It has been nine months since the joint venture was announced.

After officially announcing the contract termination, Dunamu and HYBE Labels established a different joint venture in the U.S. without JYP Entertainment in the picture. It has since been rumored that there might have been pressure on Dunamu linked to HYBE Labels regarding the joint venture. No information has been confirmed as of yet.