Second K-pop agency, SM Entertainment, taps Binance for NFT partnership

SM Entertainment subsidiary to explore non-fungible token
SM Entertainment and Binance will build ‘play-to-create’ ecosystem
YG Entertainment joined hands with Binance just a week ago

Binance inked an organization with a SM Entertainment auxiliary to investigate non-fungible token (NFT) valuable open doors, the subsequent K-pop office to sign with Binance in February.

The pair will fabricate what they call a play-to-make environment, which plans to allow fans to replicate content utilizing the SM Entertainment’s scholarly properties, which incorporate well known gatherings NCT, Red Velvet and SHINee.

Korean entertainment industry is actively entering the metaverse race

Binance will offer the innovation foundation for NFTs, and SM will give amusement content from its huge files.

Binance’s cooperation with SM comes only fourteen days after the crypto trade declared an association with YG, one more significant K-pop office of well known gathering BLACKPINK.

The Korean media outlet is effectively entering the metaverse race, with contending marks HYBE, SM, JYP and Cube Entertainment declaring related endeavors throughout the most recent year.

SM Entertainment Co., Ltd. is a South Korean worldwide amusement organization. It is one of South Korea’s biggest amusement organizations where it was laid out in 1995 by record chief and record maker Lee Soo-man.

YG Entertainment was the first agency

Different tasks will be explored, created, and carried out in the blockchain space. Among the tasks are the combination’s plan to construct a Metaverse, foster Binance Smart Chain-based gaming stages and applications, and make a space for individuals to possess and execute for advanced resources.

YG Entertainment is an umbrella, under the shade of which numerous incredibly famous K-pop craftsmen like BIG BANG, AKMU, BLACKPINK, TREASURE, and iKON, maintain. Besides, having its limb spread across different regions in the business, including record marks, occasion the executives, and music distributing, YG Entertainment sharpens a variety of Intellectual Property (IP) privileges.

Binance, working together with YG, will actually want to access and utilize these privileges to set out computerized resource building open doors.

his will, thus, help the intersection of the organizations to foster exceptional administrations and encounters for fans and others the same.

YG is one of the most notable worldwide diversion organizations on the planet. Both Binance and YG will endeavor further to assemble their administration in their separate fields, said Helen Hai, Global Head, Binance NFT, in an official statement.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing