Binance announced a strategic agreement with YG Entertainment, one of the leading K-Pop entertainment agencies.
The partnership will provide the agency with the technology platform to develop virtual products, games, NFTs, and the metaverse, according to a press release.
The two companies have plans to develop games based on the Binance Smart Chain (BSC), collaborate on building the Metaverse, and actively pursue various digital asset opportunities to develop unique fan experiences and services.
YG Entertainment To Launch NFT With Green Focus
The YG Entertainment company represents a number of notable artists including popular K-Pop bands: Black Pink, Big Bank, and Winner.
For the agency it represents the first foray into the burgeoning space of digital collectibles. The settlement statement suggests that YG’s NFT series and virtual products could be associated with the acclaimed artists under its management.
The announcement placed particular emphasis on its claim to take a “green” approach.
“Building NFTs in a green way is one of the considerations that Binance and YG emphasize during the collaboration,” the statement read.
The notice also claimed that Binance NFT, the exchange’s native digital collectibles trading platform that uses the BSC network, provides a “greener and more energy-efficient” platform than Bitcoin.
“Binance will work closely with YG to create a green ecosystem for NFT,” said Helen Hai, Global Head of Binance NFT.
She also emphasized that the association could help promote the use of sustainable blockchain platforms.
Bo Kyung Hwang, CEO of YG, said:
“As the leader of K-Pop, we plan to constantly build an innovative and green NFT ecosystem. The collaboration with Binance has given YG the opportunity to secure copyrights and business opportunities for rare and valuable content. We also hope that it can further strengthen the bond between fans and artists.”