Binance, the world’s leading blockchain ecosystem and crypto infrastructure provider, has just announced it has signed a Memorandum of Understanding with YG Entertainment Inc. (YG), one of the largest multinational entertainment agencies in South Korea, to build a strategic partnership.
According to the press release shared with iHodl, as part of the partnership, the crypto exchange and the entertainment company will work together on multiple blockchain projects, including collaborations in the NFT space. Binance will provide the NFT platform and technology infrastructure, whereas YG will supply NFT content and gaming assets.
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Both companies have also announced they plan to develop games based on the Binance Smart Chain, collaborate on building the Metaverse and actively pursue various digital asset opportunities.
The partnership will be beneficial to both companies, since several world-renowned Kpop stars are managed by YG, including Big Bang, Blackpink, Winner, iKon, AKMU and Treasure.
It must be noted that Kpop is attracting millions of fans around the globe. The MoU with Binance will allow YG to more actively extend its growth in the NFT market.