Binance, the world’s largest cryptocurrency exchange, has entered into a strategic partnership with Media Publishares and VIDY. The end goal of the collaboration is to build a new NFT platform that will serve the fashion, arts, and music industries.
While Media Publishares is the publisher of Vogue, Buro, Esquire, and Robb Report, VIDY is a blockchain-powered digital advertising agency. The relationship between both companies grew organically following the implementation of VIDY’s technology across Media Publishares’ titles.
With Binance will be providing the underlying technology and essential expertise required to create an innovative and dynamic NFT marketplace. Commenting on the partnership, Helen Hai, head of Binance NFT said:
As a leader in the blockchain industry, Binance is always dedicated to exploring innovative blockchain applications with other industry leaders. We are excited to partner with the publishers of leading magazines such as Vogue Singapore as well as innovative companies such as VIDY. Together, I am confident we can build a platform that will unlock the imagination of art and technology, maximize the value of creativity, and accelerate the growth of the fashion industry.
According to an earlier publication by Bloomberg, the NFT platform is slated to go live in Q3 2021. The platform will allow users to explore creative pieces in a 360-degree navigable virtual environment. Some of the key features include minting, trading, and auctioning of NFTs.