Global cryptocurrency platform Binance partners YG Entertainment Inc, one of South Korea’s leading multinational entertainment corporations
Binance & YG Entertainment Partnership
Binance and YG will collaborate on a variety of blockchain initiatives as part of the strategic alliance, including cooperation in the NFT area. Binance will offer the platform and technical infrastructure for the NFT, while YG will provide the content and game assets for the NFT. Additionally, the two firms want to create Binance Smart Chain-based games, cooperate on Metaverse development, and aggressively seek other digital asset prospects in order to provide fans with unique experiences and services.
YG Entertainment is an umbrella company that supports a number of internationally known K-pop singers, including BIG BANG, AKMU, BLACKPINK, TREASURE, and iKON. Additionally, by spreading its tentacles throughout other industries, such as record labels, event management, and music publishing, YG Entertainment hones an array of Intellectual Property (IP) rights.
The alliance will aggressively seek numerous digital asset possibilities in order to create one-of-a-kind experiences and services for the artists’ fan bases. Binance and YG will collaborate to establish an eco-friendly environment for NFTs, as the debate over the effect of NFTs on climate continues to rage tremendously. Kpop has been a driving force behind the Korean Wave, garnering millions of admirers worldwide. The MoU with Binance is intended to enable YG to expand its business in the NFT industry more aggressively.
Quotes
Helen Hai, Global Head of Binance NFT, said: “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. 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.”
Helen added: “Binance will be working closely with YG to create an eco-friendly ecosystem for NFTs. YG is a global entertainment corporation with global influence, and we believe that it is important to promote the use of sustainable blockchain platforms.”
Bo Kyung Hwang, Chief Executive Officer (CEO) at YG, said: “As a Kpop leader, we plan to steadily build an innovative and eco-friendly NFT ecosystem. 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.”
