Binance, YG Entertainment tie up for NFTs

Binance has just announced its partnership with YG Entertainment Inc, one of South Korea’s leading multinational entertainment corporations.

The companies have signed a Memorandum of Understanding to build a strategic partnership. As part of this, Binance and YG will cooperate on a range of blockchain projects, including collaborations in the NFT space. Binance will provide the NFT platform and technology infrastructure while YG will supply NFT content and gaming assets.

The two companies also have plans to develop Binance Smart Chain-based games, collaborate on building the Metaverse, and actively pursue various digital asset opportunities. A number of world-renowned Kpop stars are managed by YG, including BIG BANG, BLACKPINK, WINNER, IKON, and more.

“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.” said Bo Kyung Hwang, CEO of YG Entertainment.

It is expected that the partnership with Binance will allow YG to more actively extend its growth in the NFT market.