Binance’s new relationship with YG will help it expand its international NFT community, which includes anything from games to a metaverse, in Korea and around the world.
Binance joins forces with a K-pop entertainment company
Binance has signed a Memorandum of Understanding with YG, one of South Korea’s most prominent entertainment companies. Binance hopes to leverage the global appeal of K-Pop and other Korean pop culture icons with this partnership.
According to a press statement issued on February 8th, NFT-related efforts would be at the heart of the agreement. International entertainment partnerships will be made feasible through this deal as well, as the two companies hope to flex their muscles.
“YG is one of the most well-known global entertainment corporations in the world. Both Binance and YG will strive to further build their leadership in their respective fields,” said Helen Hai, Global Head of Binance NFT. “Now that the two companies have joined forces, we can expect to see a strong cooperative relationship being forged. We hope that this will support the development of the global blockchain ecosystem, and bring further mainstream adoption of new assets, such as NFTs, to a new user base.”
Binance’s Smart Chain, metaverse advancements, and more were also mentioned in a press release. YG and Binance have made it clear that they intend to create the NFTs sustainably and to present K-Pop to a global audience in a new light.
“As a Kpop leader, we plan to steadily build an innovative and eco-friendly NFT ecosystem,” said Bo Kyung Hwang, Chief Executive Officer (CEO) at YG. “Collaboration with Binance has provided an opportunity for YG to secure royalties and business opportunities for rare and valuable content. We also hope that it could further strengthen the bond between fans and artists.”
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.