BTS’s NFT Venture Hits Sour Note With Fans

SEOUL—When BTS unveiled plans last month to break into the NFT business, the South Korean boy band’s supporters revolted online, threatening boycotts and lodging environmental concerns.

In its first public comments after the fan backlash, BTS’s management agency HYBE Co. said it wouldn’t bow to the pressure, vowing to move forward with plans for nonfungible tokens, or NFTs. The initial endeavor will center on digital photo cards of BTS members and will launch within the first half of 2022, said John Kim, project lead of HYBE America overseeing the NFT business, in a statement to The Wall Street Journal.