Alex Coin 
The entertainment agency behind BlackPink and other famous K-Pop bands are taking their first steps in NFT together with Binance. (Despite the rejection from fans).
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The world’s largest cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. exchange, Binance is teaming up with K-Pop stars to build an ecosystem of tokens non-fungible (NFT) and environmentally responsible metaverse.
Binance announced Tuesday a strategic agreement with YG Entertainment one of the leading K-Pop entertainment agencies. The partnership will provide the agency with the technological platform a place to buy, sell and store cryptocurrency for develop virtual products, games, NFT, and metaverse according to a press release.
The two companies have plans to develop Binance Smart Chain (BSC) based games, collaborate on building the Metaverse a metaverse is a digital universe that contains all the aspects of the real world, such as real-time interactions and economies. It offers a unique experience to end-users. and actively pursue various digital digital technologies are these electronic tools that have the ability to generate, store or even process data. asset opportunities to develop unique fan experiences and services.
YG Entertainment will launch NFT with a green approach
The company YG Entertainment represents a number of notable artists including popular K-Pop bands: BlackPink , Big Bank y Winner . For the agency, it represents its first foray into the burgeoning digital collectibles space. The agreement statement suggests that the NFT series and virtual products from YG could be associated with the acclaimed artists under his administration.
Although the partners did not provide further details about the agreement, such as the launch schedule or the content of the virtual product collections, they did emphasize their intention to assume a approach ” ecological “.
“ Creating NFT non-fungible tokens (NFTs) are cryptocurrencies that do not possess the property of fungibility. in an environmentally friendly way is one of the considerations Binance and YG emphasize during the collaboration “, read the statement. The notice also assured that Binance NFT the marketplace for trading digital collectibles native to the exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. using the BSC network, provides a platform for the “digital collectibles marketplace”. greener and more energy efficient than Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. “.
“ Binance to work closely with YG to create a green ecosystem for NFT “, he commented in this line Helen Hai global head of Binance NFT . She also emphasized that the partnership could help promote the use of sustainable blockchain platforms. Bo Kyung Hwang, CEO of YG, added:
As a K-Pop leader, we plan to constantly build an innovative and green NFT ecosystem. The collaboration with Binance has provided YG with the opportunity to secure royalties and business opportunities for rare and valuable content. We also hope that it can further strengthen the bond between fans and artists.
K-Pop Fans Reject NFTs non-fungible token, a unique non-interchangeable piece of digital content that is stored on a distributed ledger (blockchain).
This is not the first foray of a K-Pop culture company into the NFT and metaverse sphere. Last year, Hybe the South Korean record label behind the famous K-Pop group BTS, partnered with the cryptocurrency exchange platform, Upbit with that country, to launch an NFT project.
“ We are working with Dunamu to create a way to expand the fan experience. “, dijo en un comunicado de noviembre el presidente de Hybe , Bang Si-hyuk.
However, the announcement came with a lot of criticism from fans of one of the biggest selling bands in 2021. According to Decrypt the BTS fans took to Twitter to criticize Hybe for the plans arguing that the environmental impact of the technology Blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. goes against the male band’s stance on the environment. In a previous interview with Teen Vogue the group described climate change change — a concept relevant to cryptocurrencies that use the UTXO model — is the number of coins sent back to a user after they use their unspent outputs to initiate a transaction. as a “climate change”. important problem “.
It is possible that the ecological approach to the association of Binance y YG Entertainment to appease the massive fan backlash. Meanwhile, the NFT market an area or arena, online or offline, in which commercial dealings are conducted. is generating a lot of interest in South Korea, where even the giant Internet company, Kakao has announced plans to launch an NFT and metaverse platform called Kakao Games .
- Ubisoft introduces Quartz: to introduce Tezos-based NFTs in its most popular games
- Nike is suing StockX for selling NFT of its branded shoes.
- Universal Music Group creates first NFT band made up of virtual apes
Sources: News Wire , Cointelegraph ,
Article by Hannah Estefania Perez / DiarioBitcoin
Image edited from Unsplash
