Binance Partners with YG entertainment to develop Digital Assets and NFT games

The world’s leading cryptocurrency infrastructure provider, Binance, has signed a Memorandum of Understanding with YG Entertainment Inc. to build a strategic partnership. This partnership reportedly aims to give the two companies an avenue for cooperation regarding blockchain-based projects. YG, one of South Korea’s largest entertainment corporations, will supply NFT content and gaming assets while Binance provides NFT platforms and technological infrastructure as the partnership heads to the NFT space.

The two companies reportedly have plans to develop chain-based games, build in the Metaverse, and actively pursue digital asset opportunities to create unique experiences for users.

This partnership is expected to create positive synergies for both companies as each has near-endless resources in their respective industries. YG manages several world-renowned Kpop artists including, Big Bang, Blackpink, Winner, iKon, AKMU, and Treasure. Additionally, Binance is regarded as the go-to place for most crypto-related activities. To develop digital assets and NFTs, both corporations plan to use their extensive resources and intellectual property rights.

Bo Kyung Hwang, Chief Executive Officer (CEO) at YG, said:

“As a Kpop leader, we plan to steadily build an innovative and eco-friendly NFT ecosystem. Collaboration with Binance has provided an opportunity for YG to secure royalties and business opportunities for rare and valuable content. We also hope that it could further strengthen the bond between fans and artists.”

Helen Hai, Global Head of Binance NFT, said:

“YG is one of the most well-known global entertainment corporations in the world. Both Binance and YG will strive to further build their leadership in their respective fields. Now that the two companies have joined forces, we can expect to see a strong cooperative relationship being forged. We hope that this will support the development of the global blockchain ecosystem, and bring further mainstream adoption of new assets, such as NFTs, to a new user base.”

She then adds that “Binance will be working closely with YG to create an eco-friendly ecosystem for NFTs. YG is a global entertainment corporation with global influence, and we believe that it is important to promote the use of sustainable blockchain platforms.”

Source: PR Newsire