Binance Inks MoU with Netmarble for Developing a P2E Game and NFTs
Binance, the world’s biggest cryptocurrency exchange by trading volume, is extending its services in the non-fungible token (NFT) area. With the signing of a Memorandum of Understanding, the world’s biggest crypto business is now developing a worldwide Play to Earn (P2E) and offering NFTs.
Netmarble F&C, a Netmarble Corp. subsidiary, inked the agreement. Binance Smart Chain’s gaming infrastructure will benefit from these enhancements. p2e and GameFi projects will be developed on a private chain for Netmarble on BSC Application Side Chain (BAS).
In the gaming and entertainment industry, Netmarble is a key participant thanks to a number of popular PC and video games. Blade & Soul Revolution and The Seven Deadly Sins: Grand Cross are two of its most popular titles. With the acquisition of BSC GameFi’s ITAM CUBE, it has made a clear statement about its intention to join the blockchain gaming market.
A Binance NFT marketplace Initial Game Offering (IGO) is also on the table as part of this agreement, in addition to the existing gaming options. That means the gaming firm may sell its NFT on the NFT platform, which will help it embed itself in the ecosystem as well.
According to the gaming company’s announcement, blockchain, metaverse, and NFT will be integrated into its products in the future. CEO Seo woo-won, who also oversees the Metaverse Entertainment division of Netmarble, said this MoU marks the beginning of a long-term cooperation with Binance.
“Bring blockchain entertainment to mainstream and realize borderless pleasure and enjoyment – together,” he said, according to his statement. Maintaining its prominence among crypto exchanges is made easier for Binance with this alliance. Coinbase and FTX, two of the most well-known controlled exchanges, have recently made aggressive pushes into the NFT market.
In this way, helping an established video game brand transition into the blockchain gaming market might help it further consolidate its edge over its competitors. Gala ecosystem and The Sandbox are two gaming blockchains that have seen some success in the last few weeks.