SM Entertainment's subsidiary company SM Brand Marketing has signed a strategic partnership with the cryptocurrency exchange platform Binance, in the hopes of venturing into NFTs, blockchain technology, etc. 

The company's move will signal the beginning of SME's new culture slogan 'Play to Create' or 'P2C', a term first coined by producer Lee Soo Man. The concept revolves around a Metaverse platform where users can re-create content such as games, music, dance, goods, and more using platform-exclusive tools and IPs.

Through its partnership with Binance, SM Entertainment aims to provide an environment where creators all over the world can participate in re-creation activities freely using IPs. A representative of SM Brand Marketing stated, "The ecosystem created by the P2C concept will bring together fans, artists, and companies and lead new innovations in secondary creations prevalent in the K-Pop community. Content which previously only existed in hidden communities will be drawn to the surface, expanding the breadth of the K-Pop industry."

Meanwhile, YG Entertainment also established a partnership with Binance earlier this year.