SEOUL, South Korea, Sept. 12, 2024 /PRNewswire/ — HYBE introduced at the moment that its subsidiary BINARY KOREA (hereafter “BINARY”) has signed a memorandum of understanding (MOU) with Coinbase, the world’s most respected cryptocurrency firm, to work collectively on creating BINARY’s Onchain Engagement Protocol that goals to revolutionize the creator financial system by means of blockchain expertise.
BINARY, HYBE’s arm devoted to prioritizing Web3 consumer expertise in constructing a brand new leisure ecosystem, is partnering with Coinbase to launch the Onchain Engagement Protocol, an revolutionary creator enablement platform that harnesses the ability of AI and blockchain expertise. This expertise will assist join creators with assets wanted to assist facilitate funds between followers and creators. Set to launch in 2025, this platform will likely be built-in into BINARY’s creator fandom platform, THEUS, enhancing the general expertise for creators and their followers.
By using the Coinbase Developer Platform and Base blockchain, this initiative goals to equip creators with important instruments for safe exchanges of rewards, donations, and incentives, fostering deeper connections inside their communities. The Onchain Engagement Protocol highlights BINARY’s dedication to revolutionizing the creator financial system and constructing a dynamic new leisure ecosystem that empowers creators and enriches fan engagement.
Anticipated options of the Onchain Engagement Protocol embrace:
- AI-Powered Influencer Discovery: Superior fashions to determine rising influencers and join them with supporters.
- Autonomous Engagement Administration: AI brokers that handle fan interactions and automate the distribution of digital rewards.
- Built-in Token Economic system: An intuitive system for straightforward donations between followers and creators, built-in with Coinbase wallets on the Base blockchain.
Sungmin Kim, CEO of BINARY, said, “Now we have all the time been dedicated to fostering a extra significant and satisfying creator financial system tailor-made to the wants of an IP-centric panorama, going past the normal enterprise mannequin. In partnership with Coinbase, we imagine that the brand new Onchain Engagement Protocol will considerably improve engagement between creators and followers by selling energetic consumer participation inside THEUS and different communities to be concerned.”
“We’re actually excited to companion with BINARY on this revolutionary platform,” stated Dan Kim, VP of Enterprise Improvement at Coinbase. “The Onchain Engagement Protocol empowers creators to deepen their connections with followers and receives a commission immediately for his or her work, aligning with our mission of accelerating financial freedom on this planet. By leveraging blockchain and AI expertise, we intention to supply creators with the instruments they should construct engaged communities and assist the way forward for inventive expression.”
As a part of this partnership, BINARY will leverage instruments offered by the Coinbase Developer Platform that can assist creators simply settle for donations onchain and construct onchain performance into their platforms. These instruments embrace entry to Coinbase Pockets, with transactions powered by the Base community, permitting for sooner and cheaper funds that alleviate prices for followers and influencers.
In the meantime, BINARY’s creator platform THEUS, which launched earlier this yr, has already surpassed 50,000 consumer signups and options a powerful roster of over 35 creators together with Dotty, SISTERYELL, and Cheezefilm.
About HYBE
HYBE Corp. (HYBE), rebranded from Huge Hit Leisure in March 2021, is a world leisure way of life platform firm that seeks boundless growth to be able to innovate the music business. Ever since, HYBE has been increasing its multi-label system together with BIGHIT MUSIC, BELIFT LAB, SOURCE MUSIC, PLEDIS Leisure, KOZ ENTERTAINMENT, ADOR, HYBE LABELS JAPAN, NAECO, whereas HYBE AMERICA additionally manages its affiliate labels together with Huge Machine Label Group and High quality Management. Along with the music enterprise, HYBE established an built-in construction with its tech-driven future progress initiatives that creates live performance, video content material, sport, authentic story and retail, in addition to a platform enterprise by means of Weverse, a world superfan platform. Composed of its international places of work based mostly in Korea, Japan, the US, and Mexico, the corporate works in direction of bringing revolutionary change all through the worldwide music business.
About BINARY KOREA
BINARY KOREA is a subsidiary of HYBE that gives new companies by means of the mixing of leisure and expertise, aiming to reinforce consumer expertise. The corporate launched South Korea’s first creator-fandom platform, THEUS, which expands the boundaries for creators whereas additionally encouraging significant communication between creators and followers beneath its firm slogan, ‘CREATOR AND FAN, WE BECOME ONE.’
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