Binance and South Korean entertainment corporation, YG Entertainment have signed an agreement that enables the two firms to collaborate on blockchain projects including non-fungible tokens (NFTs). They also plan to develop games that are compatible with Binance Smart Chain (BSC).
NFT, Games and Metaverse Collaboration
Cryptocurrency exchange Binance and YG Entertainment Inc., a South Korean entertainment corporation, recently announced that they will collaborate on various blockchain projects and will also collaborate in the NFT space.
Under the terms of the agreement, Binance will provide the NFT platform while YG Entertainment is expected to provide content and gaming assets. Furthermore, a statement issued by Binance states that the two entities also plan to develop games that are Binance Smart Chain (BSC) compliant. They also plan to collaborate on the creation of the Metaverse, the statement said.
Blockchain adoption
In remarks after the signing of a Memorandum of Understanding (MoU), officials from Binance and YG Entertainment praised the partnership.
“As a KPOP leader, we plan to continually build an innovative and eco-friendly NFT ecosystem. The collaboration with Binance gives YG the opportunity to secure royalties and business opportunities for rare and valuable content We also hope that this can further strengthen the bond between fans and artists,” explained Bo Kyung Hwang, CEO, YG Entertainment.
Helen Hai, Global Head of Binance NFT, in her remarks appreciated the importance of the partnership. High said:
“Now that the two companies have joined forces, we can look forward to building a stronger cooperative relationship. We expect this to support the growth of the global blockchain ecosystem, and new assets such as NFTs to a new user base.” bring it more mainstream.”
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