SM Leisure has been investing in its personal model of the Metaverse for a while now.
The corporate expanded into the rising digital artist area in October 2020 with the launch of Espa – a ‘Metaverse woman group’ consisting of 4 human members and 4 digital counterparts.
On the coronary heart of SM’s content material technique is the SM Tradition Universe (SMCU), which, in line with CEO Sung Su Lee, is a “large digital world that begins with Espa’s storytelling”.
Now, SM is increasing its metaverse ambitions into blockchain and NFTs, by means of a strategic partnership with cryptocurrency trade Binance.
Binance, a subsidiary of SM Leisure, and SM Model Advertising (SMBM) have signed a Memorandum of Understanding to type what they name a “Complete Partnership” to ascertain a worldwide Play2Create (P2C) ecosystem.
Binance and SMBM will collectively work on a blockchain mainnet, NFTs and a brand new ‘eco-fund’ to ascertain a P2C ecosystem.
The partnership will start within the NFT sector, permitting customers to “recreate content material and merchandise within the type of video games, music, dance and equipment” utilizing the instruments and IP supplied inside e-commerce, in line with the media assertion. Metaverse Platform”.
SM says this content material might be transformed into NFTs inside the so-called ‘P2C ecosystem’. The corporate says it’ll “permit customers to earn earnings in addition to be acknowledged for his or her originality”.
Binance may also present the know-how infrastructure for the general blockchain and NFT ecosystem.
In the meantime, SMBM will present large artist IP managed by its SMBM subsidiary from the likes of NCT, Espa, EXO, Pink Velvet, and extra, and assist with content material planning and platform creation.
“The P2C ecosystem created by means of leisure may also improve the artistic tradition inside the Ok-pop trade,” SM stated in a press release.
“It brings collectively followers, artists and corporations to hitch forces on these e-commerce and metaverse platforms”.
“Binance is delighted to associate with SMBM to advance the present P2E ecosystem to the P2C ecosystem.”
Helen Excessive, International Head of Binance NFT, 1 stated: “Binance is delighted to associate with SMBM to advance the present P2E ecosystem to the P2C ecosystem.
“We need to present SMBMs with sturdy know-how that may assist the various KPOP international followers who get pleasure from recreating content material based mostly on their favourite Korean celebrities and need to earn passive earnings by means of their hobbies. “
“SM is creating varied Metaverse-oriented content material IPs by means of SMCU (SM Tradition Universe) together with Metaverse Origin Tales.”
Sung Su Lee, SM Leisure
Sung Su Lee, CEO of SM Leisure, stated: “SM is creating varied Metaverse-oriented content material IPs by means of SMCU (SM Tradition Universe) together with Metaverse Origin Tales.
“By combining SM’s manufacturing capabilities, SMBM’s e-commerce platform capabilities, and Binance’s know-how infrastructure, we anticipate this broad partnership to convey nice innovation to the institution of the P2C ecosystem and the growth of companies within the blockchain trade.” .
“It’s also a possibility for followers to create a brand new participatory constructing tradition by means of leisure and to reap financial advantages from being on the blockchain.”worldwide music enterprise