One of the biggest multinational entertainment corporations is now joining hands with one of the world’s biggest blockchain ecosystems.
YG Entertainment, which manages world-renowned Kpop Stars like Blackpink, Bigbang, Winner, iKON, AKMU, and Treasure is now joining the crypto and NFT World.
On February 8, Binance a cryptocurrency exchange that is one of the largest exchanges in the world has announced the signing of an MOU (Memorandum of Understanding) with YG Entertainment – a South Korean multinational entertainment agency.
Binance and YG will partner on a number of blockchain projects including:
- collaborations in the NFT space
- develop Binance Smart Chain-based games
- building the Metaverse
- work together to create an eco-friendly ecosystem for NFTs
- actively pursue various digital asset opportunities to develop unique experiences and services for fans
YG will supply the NFT content and gaming assets while Binance will provide the NFT platform.
Great news to all the Blinks, VIP, iKONIC, Inner Circle, and Treasure Makers!
YG has immense potential to develop digital assets, including NFTs, using their intellectual property (IP) rights in a wide range of
NFT, which stands for non-fungible token, is a one-of-a-kind digital token that allows artists to share their content in a unique way. The growth of NFT is paving the way for a change in the paradigm of the music and Kpop industry by serving more than just a consumption purpose for fans.
Kpop has been at the forefront of the Korean Wave, attracting millions of fans around the globe. It is expected that the MoU with Binance will allow YG to more actively extend its growth in the NFT market.
“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.” – Bo Kyung Hwang, Chief Executive Officer (CEO) at YG
“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 Hai, Global Head of Binance NFT
“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.” – Helen Hai, Global Head of Binance NFT
With this collaboration, expect to see NFTs focused on some of the world’s favorite K-POP stars.
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