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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