Market Share of Blockchain in Media, Advertising, and Entertainment Industry
The competitive landscape of the global blockchain in the media, advertising, and entertainment industries is moderately concentrated, as only a few players offer blockchain solutions, especially in the media and entertainment industries. The vendors have adopted different strategies, such as partnerships, collaborations, acquisitions, and new product launches, to expand their presence in the global market and increase their market share.
In October 2022, Binance, a major blockchain ecosystem and cryptocurrency infrastructure provider, announced signing a Memorandum of Understanding (MOU) to form a strategic cooperation with YG Entertainment Inc. (YG), one of South Korea's top global entertainment businesses. Binance and YG will work on various blockchain projects as part of their strategic cooperation, including projects in the NFT sector. Binance will provide the NFT platform and technological infrastructure, and YG will offer the NFT content and gaming assets. Additionally, the two businesses intend to create games based on the Binance Smart Chain, work together to establish the Metaverse, and actively explore other digital asset opportunities to create distinctive products and services for customers.
Blockchain in Media, Advertisement and Entertainment Market Leaders
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IBM Corporation
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Microsoft Corporation
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Ernst & Young Global Limited
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Bitfury Group Limited
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SAP SE
*Disclaimer: Major Players sorted in no particular order
