Fri Sep 13 00:16:00 UTC 2024: ## HYBE’s BINARY Partners with Coinbase to Revolutionize Creator Economy with Web3 and AI

**SEOUL, SOUTH KOREA – September 12, 2024** – HYBE, the global entertainment company behind popular K-Pop acts like BTS, announced today that its subsidiary BINARY has partnered with Coinbase, a leading cryptocurrency exchange, to launch the Onchain Engagement Protocol. This innovative platform aims to transform the creator economy by leveraging blockchain and artificial intelligence (AI).

The protocol will be integrated into BINARY’s existing creator fandom platform, THEUS, and will launch in 2025. It will equip creators with tools to manage secure payments, donations, and rewards for their fans, fostering deeper engagement within their communities.

Key features of the Onchain Engagement Protocol include:

* **Secure and efficient payment system:** Powered by the Base blockchain and Coinbase Wallet, the platform will allow for faster and cheaper transactions between creators and fans.
* **Enhanced fan engagement:** Creators will be able to build onchain functionality into their platforms, enabling them to create and distribute exclusive content and rewards.
* **Increased economic freedom:** By facilitating direct payments between creators and their supporters, the protocol aims to empower creators and provide them with more control over their finances.

Sungmin Kim, CEO of BINARY, highlighted the company’s commitment to creating a more meaningful and enjoyable creator economy. “In partnership with Coinbase, we believe the Onchain Engagement Protocol will significantly enhance engagement between creators and fans,” he said.

Dan Kim, VP of Business Development at Coinbase, expressed excitement about the partnership: “We are truly excited to partner with BINARY on this innovative platform. The Onchain Engagement Protocol empowers creators to deepen their connections with fans and get paid directly for their work, aligning with our mission of increasing economic freedom in the world.”

The partnership between BINARY and Coinbase marks a significant step towards redefining the creator economy by leveraging the power of Web3 technology and AI. This initiative is expected to benefit both creators and fans, fostering a more equitable and engaging digital ecosystem.

Read More