P2C is a term first coined by Lee Soo Man, the founder and producer of SM Entertainment. In the P2C ecosystem, users can freely re-create content using the intellectual properties (IP) and platform-exclusive tools. SMBM plans to establish an environment where global creators can easily participate in recreation using the companyŌĆÖs IPs. Blockchain technology will allow the users to earn profit from the royalties of the re-created content. The P2C ecosystem is expected to expand the field of the K-pop industry. Both SMBM and Binance will work jointly on the blockchain main net, non-fungible token (NFT), and eco-fund to establish the P2C ecosystem. Starting with cooperation in the NFT sector and the creation of a joint eco-fund, the companies will collaborate on various projects, including project investments, product planning and development. Source (1) Translator Changhyun Kim: Hello, K-pop, K-drama, and K-movie lovers! I will provide you with accurate and reliable Korean Entertainment news.
