Binance Takes Another Step into K-Pop

Despite a string of issues with regulators in recent months, Binance continues to widen its net. Last month, news of Binance sponsoring the Argentine national soccer team drew plenty of interest.

Overnight, Barcelona FC rejected sponsorship deals with crypto-related entities. A recent spate of regulatory issues may have scuppered Binance’s goal to become Barcelona FC’s sponsor.

According to reports, Barcelona FC cited a lack of confidence in the crypto sector and a lack of economic solidity as reasons for rejecting the crypto exchange offers.

Binance Gets Active in the NFT Space

In recent weeks, Binance has been particularly active within the NFT space. This month, Binance reportedly signed a partnership for blockchain gaming and an NFT ecosystem. Netmarble and Binance are looking at launching an Initial Game Offering (IGO) via the Binance NFT marketplace to sell Netmarble game NFTs. The move is a strategic one as NFT interest continues to surge.

Beyond gaming, Binance has targeted other industries present in the NFT marketplace. The music industry has shown increased interest in NFTs this year. K-Pop has also found its place in the NFT marketplace and the Metaverse.

With K-Pop continuing to command a global presence, it was only a matter of time before Binance explored Kpop as a collaborator.

Binance and Kpop Unite

In late 2021, Binance announced the launch of “THE SHOW FanBox NFT Collection” with KStarLive. KStarLive delivers all Hallyu (K-Pop and KDrama) entertainment news and posts to more than 9 million subscribers globally.

THE SHOW FanBox NFT Collection was the first NFT drop of K-Pop performance NFTs on FEATURED. FEATURED is a non-custodial, on-chain NFT platform within the innovation arm of Binance. The platform enables brand partners to launch NFTs and provides a marketplace for minting and trading NFTs.

25,000 NFTs included ‘Legendary’ and ‘Epic’ level NFTs. 24 legendary NFT holders could redeem lifetime tickets to attend the shooting of THE SHOW twice yearly. 300 Epic NFT holders could redeem tickets to visit the shooting once a year.

Binance partnered with SBSMedianet to deliver the NFT collection.

Binance Takes Another Step into the K-Pop Universe

Today, Binance announced a ‘strategic partnership with SM Brand Marketing.’

Binance and SM Brand Marketing plan to establish a global Play-to-Create (P2C) ecosystem. P2C will enable users to recreate content and products in the forms of games, music, dance, and goods, which are convertible into NFTs.

Binance’s global presence gives Kpop a platform for fan retention and engagement. Earlier this month, Binance announced a strategic partnership with YG Entertainment. Binance and YG Entertainment aim to develop Metaverse, NFT, and gaming opportunities.