Binance has announced the signing of a Memorandum of Understanding to build a strategic partnership with YG Entertainment Inc. As part of the strategic partnership, Binance and YG will cooperate on a range of blockchain projects, including collaborations in the NFT space. Binance will provide the NFT platform and technology infrastructure while YG will supply NFT content and gaming assets. The two companies also have plans to develop Binance Smart Chain-based games, collaborate on building the Metaverse, and actively pursue various digital asset opportunities to develop unique experiences and services for fans.

It is expected that the partnership between Binance and YG will create positive synergies between the two firms. A number of world-renowned Kpop stars are managed by YG, including Big Bang, Blackpink, Winner, iKon, AKMU, and Treasure. YG has immense potential to develop digital assets, including NFTs, using their intellectual property (IP) rights in a wide range of business fields.