K-Pop Label YG Entertainment Plans to Launch NFTs

K-pop label YG Entertainment, home to bands such as BLACKPINK and Big Bang, is joining the rest of the world and venturing into the world of crypto and NFTs. The company has announced a partnership with Binance, one of the world's largest blockchain and digital asset exchanges.

YG shared that the two parties plan to build a strategic partnership, which will involve a variety of blockchain projects. Binance will be providing the technology infrastructure to support YG's creative content. In addition to NFTs, the duo plans to expand into the metaverse while creating Binance Smart Chain-based games. "Collaboration with Binance has provided an opportunity for YG to secure royalties and business opportunities for rare and valuable content. We also hope that it could further strengthen the bond between fans and artists," YG's CEO Hwang Bo-kyung shared. The company, recognizing the environmental impact of NFTs, has pledged the partnership will prioritize sustainability.

With this announcement, we can expect launches like NFTs focused on some of K-pop's favorite artists. Stay tuned as we learn more.

Click here to view full gallery at HYPEBAE