Binance, one of the world’s leading cryptocurrency exchanges, announced that it signed a Memorandum of Understanding (MoU) for a strategic partnership with Netmarble F&C, a subsidiary of Netmarble Corporation, to build a global Play to Earn (P2E) ecosystem and NFT offering.
The strategic partnership is to enable the two teams to develop and contribute to the infrastructure of Binance Smart Chain (BSC) through BSC Application Side Chain (BAS).
The announcement reveals that there will be a private chain for Netmarble to develop on the BSC GameFi sidechain and Netmarble will build GameFi projects that can grow the BSC GameFi ecosystem and the global P2E ecosystem.
What you should know
- According to the announcement, asides from the technological collaboration, Binance and Netmarble are discussing opportunities to launch an Initial Game Offering (IGO) on Binance NFT marketplace. This will entail conducting sales of Netmarble game NFT on Binance NFT marketplace, plug Netmarble into Binance’s crypto ecosystem to support the development of crypto use cases in their future games, and more.
- Netmarble F&C is a subsidiary of Netmarble Corporation, a company that was established in 2014. The firm is known for developing successful games, such as ‘The Seven Deadly Sins: Grand Cross’ and ‘Blade & Soul Revolution’.
- With Netmarble F&C recent acquisition of ITAM CUBE, a GameFi project on BSC, Netmarble F&C has now secured P2E infrastructure and technology to integrate their existing businesses into the blockchain.
- As a first step in this newfound partnership, there will be an NFT presale for ‘Golden Bros’, a casual shooting game developed by Netmarble F&C, that was recently built, on Binance NFT.
What they are saying
Helen Hai, Global Head of Binance NFT, commented on this new partnership stating, “Netmarble has such an innovative background in the gaming industry and it will be a privilege to work together. Through the partnership, we hope to support Netmarble in building a sustainable and disruptive GameFi ecosystem which extends beyond the gaming entertainment industry.”
Seo woo-won, CEO of Netmarble F&C, and the Head of Metaverse Entertainment stated, “We are glad to begin our extensive partnership with Binance to pursue the same goal – bringing blockchain entertainment to the mainstream and realizing borderless joy and fun – together.”
The blockchain ecosystem Netmarble F&C is building strives to tie all types of entertainment into one P2E platform. Netmarble Corporation recently announced to join the bandwagon of applying metaverse, blockchain, and non-fungible token (NFT) technologies to gaming and entertainment. Netmarble F&C will create a blockchain ecosystem that integrates game, contents, and commerce, reaching out to diverse business verticals such as web-comics, fiction, and Metahuman.
The company is incorporating blockchain technology into its next games with its first blockchain game on BSC scheduled to launch in March. Digital content and e-commerce business are also to be added to a single entertainment launcher.