The global influence of Binance could lead other DeFi platforms into adopting the P2C concept.
Binance Eyes Play-To-Create
Binance and SM Entertainment have signed a deal that will see the two firms work together to expand the play-to-create (P2C) ecosystem. The agreement will commence with the two firms setting up an eco-fund and partnering in the NFT sector.
Play-to-create is a novel branch of decentralized finance. It enables users to interact with content creators’ intellectual property such as games and music and recreate them into NFTs, which they can sell for profit. SM Brand Marketing – a subsidiary of SM Entertainment, announced the collaboration via a tweet on February 23:
“SM Brand Marketing signs strategic partnership with world’s leading cryptocurrency infrastructure provider, Binance. Conceptualized by SM’s Chief Producer #SOOMANLEE, a global Play2Create (P2C) ecosystem is established! Participatory Creation Culture based on Blockchain,” the tweet stated.
SM Entertainment is well-known in the South Korean entertainment industry and manages the intellectual property rights of k-pop artists such as aespa, Red Velvet, and Girl’s Generation. While Binance will provide blockchain expertise, SM Entertainment will manage the P2C platform and provide access to the intellectual properties under its custody.
PlayToCreate was conceived by Soo-Man Lee, a music executive at SM. As a leader in K-pop culture, SM’s collaboration with Binance will boost the mutually beneficial engagement between Korean artists, bands, and their fans. More importantly, the global reach of Binance will export play-to-create beyond Korea to the world. This P2C collaboration may thus open up further interest in the concept as more platforms latch onto the idea. We may well be on the verge of transitioning from playtoearn (P2E) to P2C. It shows that DeFi is like a living organism: ever-growing, ever-mutating.
Where to find SM Entertainment: Website | Twitter | Facebook | YouTube | Instagram
Where to find Binance: Website | Twitter | Facebook | Discord | YouTube
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.
BSC NEWS is a private news network. All posts posted by this user belong 100% to bsc.news All rights are reserved to BSC NEWS for more information about BSC NEWS contact BSC NEWS HERE.
