Binance Agrees to an MOU with Netmarble F&C as It Joins the P2E and NFT Gaming Market

Binance has signed a Memorandum of Understanding (MOU) with Netmarble F&C to develop what could be the world’s largest P2E and NFT gaming ecosystem.
Image source: binance.com

Quick take:

  • Binance has signed an MOU with Netmarble to develop a global play-to-earn and NFT ecosystem.
  • The two teams have agreed to contribute and develop the infrastructure of the Binance Smart Chain through the BAC Application Side Chain (BAS).
  • The two companies are also discussing opportunities for an Initial Game Offering (IGO) on the Binance NFT marketplace.

The world’s largest crypto exchange and blockchain ecosystem Binance has launched its bid into the NFT-driven play-to-earn gaming. Announcing the agreement via a blog post, the company said it has signed an MOU with Netmarble F&C to build a global P2E and NFT ecosystem.

The two teams are forming a strategic partnership to contribute and develop the infrastructure of the Binance Smart Chain (BSC) through the BSC Application Side Chain (BAS).

Netmarble will have access to a private chain where it will develop the BSC GameFi sidechain. The video game developer will launch GameFi projects on the BSC sidechain, thereby growing the ecosystem whilst also building the global P2E ecosystem.

The two companies are also discussing opportunities for an Initial Game Offering (IGO) on the Binance NFT marketplace, where traders will be able to trade Netmarble game NFTs, as well as use the Binance NFT marketplace to offer in-game items in future games. 

The teams have agreed to launch an NFT presale of Netmarble F&C’s latest casual shooting game ‘Golden Bros’ on the Binance NFT, as a show of commitment to the strategic partnership.

Commenting on the MOU, Helen Hai, Global Head of Binance NFT highlighted Netmarble’s innovation in the gaming industry, adding that through the partnership, Binance hopes “to support Netmarble in building a sustainable and disruptive GameFi ecosystem which extends beyond the gaming entertainment industry.”

Netmarble F&C is a subsidiary of the Korean video game developer Netmarble corp, which has been behind some of the most iconic games in the gaming industry including ‘The Seven Deadly Sins: Grand Cross’ and ‘Blade & Soul Revolution.’

The game developer recently bought ITAM CUBE, a GameFi project on BSC, thereby securing the P2E infrastructure and technology required to integrate its business into the blockchain. Netmarble F&C wants to bring all forms of gaming entertainment to its p2E platform. The company has revealed plans to venture into the exciting new frontier of gaming that involves metaverse, NFTs and blockchain technology.

Seo woo-won, CEO of Netmarble F&C, and the Head of Metaverse Entertainment said, “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.”

Stay up to date:

Previous Post

McDonald’s Jumps On the Trademark Train as Metaverse Competition Heats Up

Next Post

Legal Roundup: Four Law Firms On What’s Next for Trademark Wars in the Metaverse

Related Posts
Stay on top of things
Follow us on Twitter
Total
15
Share