Despite a number of problems with regulators in recent months, Binance continues to expand its network. Last month, news from Binance sponsoring Argentina's national soccer team sparked a lot of interest.
Overnight, Barcelona FC turned down sponsorship deals with crypto-related entities. A recent spate of regulatory woes may have scuppered Binance's goal of becoming the sponsor of Barcelona FC.
According to reports, Barcelona FC cited a lack of confidence in the cryptocurrency industry and a lack of economic strength as reasons for rejecting crypto exchange offers.
Binance becomes active in the NFT space
In recent weeks, Binance has been particularly active in the NFT space. This month, Binance reported that it has signed a partnership for blockchain gaming and an NFT ecosystem. Netmarble and Binance are looking to launch an Initial Gaming Offering (IGO) through Binance's NFT Market to sell Netmarble Gaming NFTs. The move is strategic as interest in NFTs continues to rise.
In addition to gaming, Binance has targeted other industries in the NFT market. The music industry has shown increased interest in NFTs this year. K-Pop has also found its place in the NFT market 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 join forces
In late 2021, Binance announced the launch of “THE SHOW FanBox NFT Collection” with KStarLive. KStarLive provides all Hallyu news and entertainment posts (K-Pop and KDrama) to more than 9 million subscribers worldwide.
THE SHOW FanBox NFT Collection was NFT's first NFT drop of K-Pop performance on FEATURED. FEATURED is a non-custodial, on-chain NFT platform within Binance's innovation arm. The platform allows brand partners to launch NFTs and provides a market for NFT minting and trading.
25.000 NFTs include “Legendary” and “Epic” level NFTs. 24 legendary NFT holders could redeem lifetime tickets to watch THE SHOW filming twice a year. 300 Epic NFT holders could redeem tickets to visit the shoot once a year. Binance partnered with SBSMedianet to provide 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 allow users to recreate content and products in the form 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.