Kpop NFTs: Binance and YG partnership will prioritize sustainability

A caller concern betwixt planetary crypto speech Binance and South Korean amusement institution YG volition spot the 2 companies strive for a much sustainable model for aboriginal NFTs collaborations.

YG manages a fig of notable Kpop stars including BLACKPINK, BIG BANG, and WINNER. The Feb. 8 announcement stated the Memorandum of Understanding (MoU) volition reportedly springiness Binance entree to make integer assets based connected the IP (intellectual property) associated with these artists.

Although the 2 companies didn’t supply immoderate circumstantial details for immoderate upcoming NFT collections, they did corroborate that creating NFTs successful an “eco-friendly way” volition beryllium 1 of the superior concerns of their aboriginal collaborations.

Global Head of Binance NFT Helen Hai said the level volition beryllium moving “closely with YG to make an eco-friendly ecosystem for NFTs.” She added that the institution believes “that it is important to beforehand the usage of sustainable blockchain platforms.”

YG CEO Bo Kyung Hwang shared the sentiment, adding that the companies anticipation to “steadily physique an innovative and eco-friendly NFT ecosystem.”

Binance NFT is simply a multichain level that uses the PoSA (Proof of Staked Authority) network, a statement statement protocol that is much eco-friendly and energy-efficient than Bitcoin’s.

As good arsenic upcoming collaborations successful the NFT space, the 2 companies besides mentioned plans to make Binance Smart Chain-based games and collaborate connected gathering Metaverse projects.

An announcement astir the MoU stated: “Binance volition supply the NFT level and exertion infrastructure portion YG volition proviso NFT contented and gaming assets.”

Related: Singapore suspends speech Bitget’s licence implicit K-pop coin promotion

The concern won’t beryllium the archetypal collision betwixt Kpop and Web3. Most recently, U.S.-based Metaverse performance organizer Animal Concerts partnered with South Korea’s Klaytn blockchain web successful January.

With a extremity of bringing Kpop stars to the Metaverse, Animal Concerts volition signifier virtual concerts, arsenic good arsenic creating NFTs and merchandise for immoderate of its apical signaling artists.

Meanwhile, successful November past twelvemonth Animoca Brands announced it volition partner with Korean grounds statement Cube Entertainment to physique a “K-pop metaverse.”