Binance Inks Deal With South Korean Entertainment Giant for Eco-Friendly NFTsby Fintech News Singapore February 9, 2022
Blockchain ecosystem and cryptocurrency infrastructure provider Binance has announced the signing of a Memorandum of Understanding to build a strategic partnership with YG Entertainment, a South Korean multinational entertainment corporation.
As part of the strategic partnership, Binance and YG will cooperate on a range of blockchain projects, including collaborations in the NFT space.
Binance will provide the NFT platform and technology infrastructure while YG will supply the NFT content and gaming assets.
The two companies also have plans to develop Binance Smart Chain-based games, collaborate on building the Metaverse, and actively pursue various digital asset opportunities to develop unique experiences and services for fans.
Binance and YG emphasized that being eco-friendly would be one of its major considerations in this partnership.
Bo Kyung Hwang, Chief Executive Officer 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.”
Helen Hai, Global Head of Binance NFT said,
“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.”
Featured Image Credit: Wikimedia Commons