Cryptocurrency exchange platform Binance and South Korea-based entertainment agency YG Entertainment have inked an agreement to jointly explore blockchain opportunities.
The two firms will collaborate on metaverse, NFT, and gaming projects. YG’s roster of K-Pop stars are expected to feature in these offerings the form of digital assets, with Binance providing tech infrastructure through the Binance Smart Chain.
Blackpink, one of YG Entertainment’s top KPop acts has broken multiple YouTube records. / Photo credit: 123RF.com
“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,” said Bo Kyung Hwang, CEO at YG, adding that the firm was looking to build an eco-friendly NFT ecosystem.
South Korea’s entertainment players took an interest in blockchain last year. BTS’ agency, Hybe, has invested in local cryptocurrency platform Dunamu, while Cube Entertainment teamed up with Animoca Brands in relation to the metaverse.
See also: 50 rising startups in Korea
Editing by Samreen Ahmad and Arpit Nayak
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