SM Leisure has been investing in its personal model of the Metaverse for a while now.
The corporate expanded into the rising digital artist house in October 2020 with the launch of Espa – a ‘Metaverse woman group’ consisting of 4 human members and 4 digital counterparts.
On the coronary heart of SM’s content material technique is the SM Tradition Universe (SMCU), which, based on CEO Sung Su Lee, is a “huge digital world that begins with Espa’s storytelling”.
Now, SM is increasing its metaverse ambitions into blockchain and NFTs, via a strategic partnership with cryptocurrency alternate Binance.
Binance, a subsidiary of SM Leisure, and SM Model Advertising and marketing (SMBM) have signed a Memorandum of Understanding to type what they name a “Complete Partnership” to ascertain a worldwide Play2Create (P2C) ecosystem.
Binance and SMBM will collectively work on a blockchain mainnet, NFTs and a brand new ‘eco-fund’ to ascertain a P2C ecosystem.
The partnership will start within the NFT sector, permitting customers to “recreate content material and merchandise within the type of video games, music, dance and equipment” utilizing the instruments and IP offered inside e-commerce, based on the media assertion. Metaverse Platform”.
SM says this content material will be transformed into NFTs throughout the so-called ‘P2C ecosystem’. The corporate says it can “permit customers to earn earnings in addition to be acknowledged for his or her originality”.
Binance may even present the expertise infrastructure for the general blockchain and NFT ecosystem.
In the meantime, SMBM will present large artist IP managed by its SMBM subsidiary from the likes of NCT, Espa, EXO, Pink Velvet, and extra, and assist with content material planning and platform creation.
“The P2C ecosystem created via leisure may even improve the artistic tradition throughout the Ok-pop business,” SM mentioned in a press release.
“It brings collectively followers, artists and firms to affix forces on these e-commerce and metaverse platforms”.
“Binance is delighted to associate with SMBM to advance the present P2E ecosystem to the P2C ecosystem.”
Helen Excessive, International Head of Binance NFT, 1 mentioned: “Binance is delighted to associate with SMBM to advance the present P2E ecosystem to the P2C ecosystem.
“We need to present SMBMs with strong expertise that may assist the various KPOP international followers who take pleasure in recreating content material primarily based on their favourite Korean celebrities and need to earn passive earnings via their hobbies. “
“SM is creating numerous Metaverse-oriented content material IPs via SMCU (SM Tradition Universe) together with Metaverse Origin Tales.”
Sung Su Lee, SM Leisure
Sung Su Lee, CEO of SM Leisure, mentioned: “SM is creating numerous Metaverse-oriented content material IPs via SMCU (SM Tradition Universe) together with Metaverse Origin Tales.
“By combining SM’s manufacturing capabilities, SMBM’s e-commerce platform capabilities, and Binance’s expertise infrastructure, we count on this broad partnership to carry nice innovation to the institution of the P2C ecosystem and the growth of companies within the blockchain business.” .
“It is usually a chance for followers to create a brand new participatory constructing tradition via leisure and to reap financial advantages from being on the blockchain.”worldwide music enterprise