NFT: Netmarble F&C, Binance partner to develop NFT games

Netmarble F&C and Binance just announced they have signed a Memorandum of Understanding (MoU) this week. The companies will be joining forces to develop non-fungible token (NFT) games.

Netmarble F&C is a subsidiary of Netmarble Corp., and it was established in 2014. It is a game developer that created some popular games, including “The Seven Deadly Sins: Grand Cross, “Iron Throne: The Firstborn,” and “Blade & Soul Revolution.”

Now it is entering the NFT space by teaming up with Binance, the no. 1 cryptocurrency platform in the world based on trading volume. According to Korea Joongang Daily, the announcement of Netmarble F&C and Binance’s deal was from Singapore, although the latter is currently operating its business from the Cayman Islands and Malta.

The MOU between the two companies will allow the game developer to sell new game offerings, which is a paid early access to some in-game assets before they are actually developed. The company will also be able to sell NFTs that are related to its game titles via the Binance NFT marketplace.

It was further revealed that through Netmarble F&C and Binance’s strategic partnership, they will be developing and contributing to the infrastructure of Binance Smart Chain (BSC) via the BSC Application Side Chain (BAS). They will be setting up a private chain for the gaming company to build GameFi projects on the BSC GameFi sidechain.

Netmarble F&C’s very first NFT drop will be related to Golden Bros, the company’s newest shooting game that will be released this year. From there, Netmarble is looking to dive into other business opportunities in the metaverse and blockchain.

“Netmarble has such an innovative background in the gaming industry and it will be a privilege to work together,” Binance NFT’s global head, Helen Hai, said in a press release for its new partnership deal. “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’s chief executive officer and head of Metaverse Entertainment, Seo Woo Won, also commented, “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.”