Blockchain ecosystem and cryptocurrency infrastructure supplier, Binance has introduced the signing of a Memorandum of Understanding (MoU) with South Korean multinational leisure company, YG Leisure Inc (YG) to type a strategic partnership.
As a part of the strategic partnership, Binance and YG will collaborate on a variety of blockchain tasks, together with collaborations within the NFT sector. Binance will present the NFT platform and expertise infrastructure, whereas YG will provide the NFT content material and gaming belongings.
The 2 firms additionally plan to actively pursue alternatives for varied digital belongings to develop Binance Good Chain-based video games, collaborate on constructing the metaverse, and develop distinctive experiences and companies for followers.
A number of Okay-pop stars are managed by YG, together with Massive Bang, Blackpink, Winner, Icon, AKMU and Treasure. YG has immense potential to develop digital belongings, together with NFTs, utilizing its Mental Property (IP) rights in a variety of enterprise sectors.
KPOP has been on the forefront of the Korean Wave, attracting thousands and thousands of followers all over the world. It’s anticipated that the MoU with Binance will permit YG to extra actively develop its improvement within the NFT market.
Binance NFT is a multichain platform that makes use of the PoSA (Proof of Stake Authority) community, a consensus protocol protocol that’s extra environmentally pleasant and energy-efficient than Bitcoin. Creating NFTs in an eco-friendly method is among the concepts that Binance and YG emphasize in the course of the collaboration.
YG Chief Govt Officer (CEO) Bo Kyung Hwang mentioned, “As a Okay-pop chief, we plan to repeatedly construct an progressive and eco-friendly NFT ecosystem. The collaboration with Binance permits YG to We have now supplied a chance to safe royalties and business alternatives for uncommon and beneficial content material. We additionally hope that it could possibly additional strengthen the bond between followers and artists.”
Helen Excessive, World Head of Binance NFT, mentioned, “YG is among the most well-known international leisure firms on the planet. Each Binance and YG will try to additional strengthen their management of their respective areas. Now that the 2 firms be part of forces, We are able to anticipate to construct a powerful cooperative relationship. We hope this may assist the expansion of the worldwide blockchain ecosystem, and mainstream adoption of latest belongings, akin to NFTs, to a brand new person base. ”
Hai mentioned, “Binance will work intently with YG to create an eco-friendly ecosystem for NFTs. YG is a world leisure company with international affect, and we imagine it is very important promote the usage of sustainable blockchain platforms.” “