SM Entertainment has been investing in its version of the metaverse for a while now.
Now, SM is expanding its metaverse ambitions to the blockchain and NFTs, via a strategic partnership with cryptocurrency exchange Binance.
Binance and SM Brand Marketing (SMBM), a subsidiary of SM Entertainment, have signed a Memorandum of Understanding to build what they call a “comprehensive partnership” to establish, what they call, a global Play2Create (P2C) ecosystem.
Binance and SMBM will be working jointly on the blockchain mainnet, NFTs, and a new ‘eco-fund’ to establish the P2C ecosystem.
The partnership will begin in the NFT sector according to a media statement, allowing users to “recreate content and…