Binance to assist South Korea’s YG Entertainment in NFT development and the metaverse

The cryptocurrency exchange Binance and the South Korean entertainment agency YG Entertainment have agreed to collaborate in NFT-related activities and the creation of a metaverse.

YG and Binance have teamed up. Advance into NFT business

Binance provides the platform and technology infrastructure, and YG will provide content. pic.twitter.com/3WLTO8Og3r

— YG ARTISTS GLOBAL (@YGA_GLOBAL) February 8, 2022

Binance will provide the technological infrastructure and platform for issuing non-fungible tokens, while its partner will supply content and gaming assets. The companies intend to collaborate on developing games on the Binance Smart Chain and to build a user-friendly ecosystem.

YG owns copyrights, operates as a record label, and organises events featuring many K-pop stars, including Big Bang, Blackpink, Winner, iKON, AKMU and Treasure.

A partnership with Binance will create additional business opportunities. We also expect to further strengthen the bond between fans and artists, — said Bo Gen Hwan, CEO of YG Entertainment.

In November, the blockchain-game provider Animoca Brands and the record label and production hub Cube Entertainment agreed to create a metaverse oriented around the K-pop music genre.

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