Binance, a cryptocurrency exchange, announced today that it has entered into a Memorandum of Understanding (MoU) with Netmarble F&C to build an international P2E and NFT service.
Both organizations also intend to investigate the possibility of launching an Initial Game Offering (IGO) on the Binance NFT exchange. Netmarble F&C is a Netmarble Corp. subsidiary that was founded in 2014. The company is well-known for creating popular games.
Binance made the latest announcement after increasing its footprint in the global Paly to Earn (P2E) ecosystem by investing in some of the fastest-growing businesses. Binance Labs made an investment in Heroes of Mavia, a popular play-to-earn MMO strategic game, in January 2022.
Helen Hai, Global Head of Binance NFT, said of the new relationship with Netmarble, “Netmarble has such a unique background in the game business, and it will be an honor to work together.” We intend to assist Netmarble in developing a sustainable and disruptive GameFi ecosystem that reaches beyond the gaming entertainment business through our relationship.”
Netmarble F&C recently announced the acquisition of ITAM CUBE, a BSC-based GameFi project.
Blockchain Ecosystem and NFT
In 2021, non-fungible tokens (NFTs) dominated the global crypto market, with unprecedented activity. Netmarble revealed that it is planning to establish an ecosystem for the integration of gaming, content, and commerce, amidst the growing use of NFTs and blockchain-based gaming.
“We are happy to begin our broad relationship with Binance to achieve the same aim – introducing blockchain entertainment to the masses and realizing borderless joy and fun – together,” said Seo woo-won, CEO of Netmarble F&C and Head of Metaverse Entertainment.
“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, Netmarble F&C has proven to provide the highest level of gaming entertainment to audiences around the world,” the company added.