financemagnates.com
One of the world’s largest providers of crypto infrastructure, Binance today announced a strategic collaboration with Korea’s YG Entertainment. As part of the recent partnership, both companies will collaborate on a wide range of blockchain projects.
The partnership will focus on NFTs, Metaverse, and gaming opportunities. Binance also highlighted the importance of an environment-friendly ecosystem for NFTs and mentioned that it will explore further partnership options with YG Entertainment.
YG Entertainment is one of the largest multinational entertainment corporations in the world. Through the collaboration with Binance, the company aims to deliver unique experiences and services for fans. YG Entertainment will provide NFT content and gaming assets while the crypto exchange will provide its technology infrastructure and NFT platform.
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."
To increase its presence in the NFT and Gaming ecosystem, Binance announced several investments in some of the fastest-growing startups working in the mentioned sectors. Earlier this year, Nine Chronicles received investment from Binance Labs. The venture capital arm of the crypto exchange also invested in Heroes of Mavia in late January.
NFTs
The companies are planning to meet the growing demand for a broad range of options in the global NFT ecosystem.
"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,” Bo Kyung Hwang, Chief Executive Officer (CEO) at YG, commented.