To Expand Play-to-create (P2C) Ecosystem
SM Brand Marketing announced on Feb. 23 that it has signed a business agreement with Binance for collaboration in the blockchain industry.
According to the agreement, the two companies will collaborate to expand their play-to-create (P2C) ecosystem in which users can create games, music, dance and goods on their own. SM Brand Marketing will provide a wide variety of intellectual properties of SM Group, which includes its parent company SM Entertainment, while providing assistance for content planning and platform management. Binance will provide blockchain-related technical support.
In addition, they will work together in the NFT sector with SM Brand Marketing leading culture content planning, creation, distribution and sale. It is going to build an environment so that creators across the world can better utilize SM Group’s intellectual properties and their profits can be given in a transparent way.
These days, South Korean entertainment agencies are entering the NFT market one after another. For example, YG Entertainment and Binance formed a strategic partnership on Feb. 8.