Binance signs strategic partnership with Netmarble

The cryptocurrency exchange Binance announced a strategic partnership with the division of the largest South Korean mobile game developer Netmarble to create an ecosystem of Play-to-Earn (P2E) and NFT offerings.

According to the memorandum of understanding signed with Netmarble F&C, the subsidiary of the publisher will create a BSC GameFi sidechain on the Binance Smart Chain infrastructure to develop P2E projects.

Beyond the technological cooperation, the parties are considering the possibility of conducting IGO and selling NFTs on the Binance platform. It is also envisaged to connect Netmarble to the exchange’s crypto ecosystem, which would open up uses for digital assets in the developer’s future games.

As a first step in the partnership, the parties will conduct an NFT pre-sale for the latest casual shooter Golden Bros by Netmarble F&C.

“Through the partnership, we hope to support Netmarble in building a sustainable and innovative GameFi ecosystem that goes beyond the gaming entertainment industry,” said Helen Hai, Director of Binance NFT.

Netmarble F&C aims to build a blockchain ecosystem that unites games, content and commerce on a single P2E platform.

The company plans to release the first game on the BSC platform in March 2022.

Earlier, Binance agreed to cooperate in the NFT and metaverse space with the South Korean entertainment agency YG Entertainment.