Binance Partners With K-Pop Leader to Work on Creating Eco-Friendly NFTs


The world’s largest cryptocurrency trade, Binance, has signed a Memorandum of Understanding (MoU) in a bid to develop a strategic partnership with distinguished South Korean multinational leisure company – YG Leisure Inc. (YG).

Binance – YG’s Strategic Partnership

Based on the official weblog put up, the 2 firms will collectively work on a myriad of blockchain initiatives. The partnership will concentrate on the non-fungible tokens house, whereby Binance will supply the NFT platform and required infrastructure almost about tech. YG, alternatively, shall be tasked with offering NFT content material and gaming property.

For the uninitiated, YG manages a number of well-liked Okay-pop stars resembling BIG BANG, BLACKPINK, WINNER, iKON, AKMU, and TREASURE.

As a part of the strategic partnership, the 2 companies additionally intend to construct Binance Sensible Chain-based video games. Collaborating on Metaverse, in addition to actively pursuing varied digital asset alternatives to supply distinctive experiences and providers for followers, are a number of the targets that Binance and YG intention to realize sooner or later.

With local weather controversy swirling across the house, the cryptocurrency trade will work intently with YG to create an eco-friendly ecosystem for NFTs. This was revealed by Helen Hai, International Head of Binance NFT, who additionally highlighted the work on the event of the worldwide blockchain ecosystem, and fostering mainstream adoption of latest property, resembling NFTs, to a brand new person base.

Commenting on the event, YG Chief Govt, Bo Kyung Hwang, mentioned

“As a Kpop chief, we plan to steadily construct an modern and eco-friendly NFT ecosystem. Collaboration with Binance has supplied a possibility for YG to safe royalties and enterprise alternatives for uncommon and worthwhile content material. We additionally hope that it might additional strengthen the bond between followers and artists.”

Okay-Pop And NFT Hype

YG is a crucial participant within the Okay-Pop trade. The MoU with Binance is anticipated to allow the Korean big to additional lengthen the NFT house.

The most recent information comes on the heels of home-grown cryptocurrency trade, Upbit receiving important backlash after asserting the discharge of NFTs that includes stars like BTS. This didn’t sit effectively with the environmentally-conscious followers of the Okay-Pop band who waged on-line wars with hashtags resembling “#ARMYsAgainstNFT” and “#BoycottHybeNFT” on the micro-blogging web site Twitter. Because of this, the platform had clarified to make use of “low carbon, eco-friendly” expertise to mint the NFTs.

Regardless of a groundswell of opposition towards NFTs, the nation’s ruling occasion doesn’t seem like denouncing the sector’s carbon footprint. As a matter of reality, the Democratic Celebration of Korea (DPK) plans to launch NFTS or fundraising in a presidential election.

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