Binance, the world’s biggest cryptocurrency exchange, will collaborate on blockchain initiatives with YG Entertainment, the South Korean K-Pop document label at the back of Blackpink, Big Bang, and different famous artists, the business enterprise stated past due Monday.
“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,” Binance said in a statement outlining its memorandum of understanding with YG. Financial details of the partnership were not included.
YG manages some exquisite K-pop stars inclusive of Blackpink, Big Bang and Winner. The Tuesday statement states that the memorandum of understanding (MoU) will reportedly deliver Binance get right of entry to increase virtual belongings primarily based totally on the highbrow assets related to those artists.
Helen Hai, international head of Binance NFT, stated the platform may be working “carefully with YG to create green surroundings for NFTS.” She delivered that the business enterprise believes “that it’s far critical to selling using sustainable blockchain platforms.”
“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 YG CEO Bo Kyung Hwang.
“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,” said Binance NFT Global Head Helen Hai.
YG Entertainment is the contemporary K pop employer to go into the arena of NFTs. Previously, HYBE introduced their partnership with Korea’s Dunamu to release NFT photocards, whilst JYP Entertainment plans to release their personal K-pop NFT platform and SM Entertainment is withinside the works of launching their blockchain platform.
YG Entertainment is domestic to several of Korea’s largest K-pop acts which includes BIGBANG, BLACKPINK, iKON, TREASURE, and more.