Seoul – June 3, 2025 — Momentica, the NFT platform co-developed by blockchain firm Dunamu and K-pop powerhouse HYBE, is set to terminate its services on July 2, 2025. The decision comes after prolonged financial underperformance and a continued downturn in the NFT market.
Operated by their joint venture, Levvels Inc., Momentica was introduced in October 2022 as a platform offering ‘digital collectibles’—branded as ‘TAKE’—featuring exclusive content from HYBE’s artists, including SEVENTEEN, ENHYPEN, and LE SSERAFIM. Despite efforts to avoid the term ‘NFT’ in favor of ‘digital collectibles,’ the platform struggled to gain traction among fans and collectors.
According to reports, Levvels Inc. incurred an operating loss of approximately KRW 13 billion (USD 9.5 million) in 2024, with a net loss of KRW 12.3 billion (USD 9 million). The platform’s centralized control over user transactions and limited resale options were cited as factors contributing to its lackluster performance. [Allkpop]
Users who purchased digital collectibles on Momentica will have the option to download their assets as video files or request refunds equivalent to their original purchase prices. The platform’s closure reflects broader challenges in the NFT sector, particularly within the entertainment industry, where fan skepticism and market volatility have hindered adoption.
HYBE and Dunamu have indicated that they will reassess their strategies in the blockchain space, focusing on core competencies and exploring more sustainable business models moving forward.
