Binance, one of the largest crypto infrastructure providers in the world, announced today a strategic partnership with YG Entertainment Korea. Both companies will work together on a variety of blockchain projects as part of their recent partnership.
The partnership will be focused on NFTs and Metaverse, as well as gaming opportunities. Binance also spoke out in support of NFTs, pointing out the importance to create an environment that is conducive to them. It said it will be exploring other partnership options with YG Entertainment.
YG Entertainment is a multinational entertainment corporation. The company will offer unique experiences and services to fans through the partnership with Binance. YG Entertainment will offer NFT content and gaming assets, while Binance will provide the technology infrastructure and platform.
Helen Hai, Global Head of Binance NFT said that YG was one of the most well-known entertainment companies in the world. Binance and YG both will work to strengthen their leadership in their respective areas. We can expect to see strong cooperation between the two companies now that they have merged forces. This will help to develop the global blockchain ecosystem and allow for mainstream adoption of new assets such as NFTs to a wider user base.
Binance made several investments to expand its presence in NFT and Gaming. Nine Chronicles was awarded investment by Binance Labs earlier this year. In January, the venture capital arm invested in Heroes Of Mavia.
These companies plan to respond to the increasing demand for wide-ranging options in the global NFT ecosystem.
“As a leader in Kpop, we intend to build an eco-friendly and innovative NFT ecosystem. Binance collaboration has given YG the opportunity to secure royalties for rare and valuable content and business opportunities,” Bo Kyung Hwang , Chief Executive Officer at YG commented.