Binance Formed A Strategic Partnership With SM Brand Marketing

Published on: 23.02.2022

Binance, the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider, has signed a Memorandum of Understanding (MoU) to build a comprehensive partnership with SM Brand Marketing (SMBM), a subsidiary of a South Korean entertainment company SM Entertainment (SM).

As part of the comprehensive partnership, Binance and SMBM will establish a global Play-to-Create (P2C) ecosystem. The partnership will begin with a cooperation in the NFT sector and the creation of a joint eco-fund.

As part of the comprehensive partnership, Binance and SMBM will establish a global Play-to-Create (P2C) ecosystem. The partnership will begin with a cooperation in the NFT sector and the creation of a joint eco-fund.

“Binance is happy to be working with SMBM to advance the current P2E ecosystem into a P2C ecosystem. We would like to provide SMBM with the robust technology that can support the numerous Kpop global fans who enjoy recreating content based on their favorite Korean celebrities and want to earn passive income through their hobbies.”—Helen Hai, Global Head of Binance NFT

Binance and SMBM will be working jointly on the blockchain mainnet, NFT, and eco-fund to establish the P2C ecosystem. Binance will also provide the technology infrastructure for the overall blockchain and NFT ecosystem. Meanwhile, SMBM will provide the vast IPs managed by SM, including EXO, Red Velvet, NCT, aespa, and more, and support with content planning and platform construction.

“SM is creating various metaverse-oriented content IPs through SMCU (SM Culture Universe) which includes Metaversal Origin Stories. By combining together SM’s production capabilities, SMBM’s e-commerce platform capabilities, and Binance’s technology infrastructure, we expect this comprehensive partnership will bring great innovation in the establishment of the P2C ecosystem and expansion of businesses in the blockchain industry. It is also an opportunity for fans to build a new participatory creation culture through recreation and to gain economic benefits by being on the blockchain.” — Sung-su Lee, CEO of SMBM

ABOUT SM Brand Marketing (SMBM)
SM Brand Marketing a subsidiary of a South Korean entertainment company SM Entertainment (SM)

ABOUT Binance
Binance is the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider.

RESOURCES
Binance Blog

 

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