Binance Partners With Korean Entertainment Corporation — NFT and Metaverse Collaborations Envisioned

Binance and the South Korean leisure company, YG Entertainment, have signed an settlement that allows the 2 companies to collaborate on blockchain initiatives that embody non-fungible tokens (NFTs). They additionally plan to develop video games which are suitable with the Binance Smart Chain (BSC).

NFTs, Games, and Metaverse Collaborations

Cryptocurrency trade Binance and YG Entertainment Inc., a South Korean leisure company, lately introduced they may cooperate on varied blockchain initiatives and also will collaborate within the NFT house.

Under the phrases of the settlement, Binance will present the NFT platform whereas YG Entertainment is anticipated to offer the content material and the gaming property. In addition, a statement launched by Binance stated the 2 entities are additionally planning to develop video games which are suitable with the Binance Smart Chain (BSC). They additionally plan to collaborate on constructing the metaverse, the assertion stated.

Blockchain Adoption

In remarks following the signing of a memorandum of understanding (MOU), executives from Binance and YG Entertainment praised the partnership.

“As a Kpop chief, we plan to steadily construct an revolutionary and eco-friendly NFT ecosystem. Collaboration with Binance has offered a chance for YG to safe royalties and enterprise alternatives for uncommon and useful content material. We additionally hope that it might additional strengthen the bond between followers and artists,” defined Bo Kyung Hwang, CEO at YG Entertainment.

In her personal remarks, Helen Hai, Global Head of Binance NFT, lauded the significance of the partnership. Hai stated:

“Now that the 2 firms have joined forces, we will anticipate to see a robust cooperative relationship being cast. We hope that this can help the event of the worldwide blockchain ecosystem, and convey additional mainstream adoption of latest property, corresponding to NFTs, to a brand new consumer base.”

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