SINGAPORE, Feb. 10, 2022 /PRNewswire/ -- Binance, the world's leading blockchain ecosystem and cryptocurrency infrastructure provider, today announced the signing of a Memorandum of Understanding (MoU) for a strategic partnership with Netmarble F&C, a subsidiary of Netmarble Corp., to build a global Play to Earn (P2E) Ecosystem and NFT offering.
Through the strategic partnership, the two teams will develop and contribute to the infrastructure of Binance Smart Chain (BSC) through BSC Application Side Chain (BAS). 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.
On top of the technological collaboration, Binance and Netmarble are discussing opportunities to launch an Initial Game Offering (IGO) on Binance NFT marketplace, conduct 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. Furthermore, there are more long-term goals for the two parties to come, with details to be shared in due course.
Helen Hai, Global Head of Binance NFT, commented on the partnership: "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."
Netmarble F&C, Inc. is a subsidiary of Netmarble Corp. established in 2014 and known for developing successful games, such as 'The Seven Deadly Sins: Grand Cross' and 'Blade & Soul Revolution'. Netmarble F&C has proven to provide the highest level of gaming entertainment to audiences around the world with creative ideas, world-class graphics, and solid development in a variety of mobile and PC games based on its powerful franchises and collaborations with intellectual property (IP) holders worldwide. With its recent acquisition of ITAM CUBE, a GameFi project on BSC, Netmarble F&C has secured P2E infrastructure and technology to integrate their existing businesses into the blockchain.
The blockchain ecosystem Netmarble F&C is building strives to tie all types of entertainment into one P2E platform. Netmarble Corp. 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, fictions, and Metahuman.
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."
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.