By investing in the decentralized entertainment platform MEET48, YZi Labs aims to accelerate the growth of Web3 projects that enable fans to build stronger connections with their idols.
YZi Labs, Binance's $10 billion investment arm (formerly known as Binance Labs), announced a strategic investment in the MEET48 platform, which aims to revolutionize the entertainment world. Selected from BNB Chain's prestigious accelerator program MVB, MEET48 aims to democratize fans' roles in the idol economy through token-based solutions.
Founded in 2022, MEET48 offers idol fans the opportunity to vote in idol elections, earn special NFTs, and participate in virtual meet-ups through $IDOL tokens. This allows fans to be directly involved in processes that are typically controlled by agencies and media companies in the traditional idol industry. MEET48 aims to reach more than 30 million idol fans worldwide, starting from Southeast Asia.
A New Era in the Entertainment World with MEET48
With the funds provided by YZi Labs, MEET48 will focus on empowering idol candidates from underrepresented communities in regions such as Japan, Malaysia, and South Korea. Additionally, important projects such as virtual idol performances, co-branded events, and Web3-based idol voting organizations will be carried out to accelerate the platform's growth.
Sarah Song, Head of Business Development at BNB Chain, stated, "MEET48 is transforming the relationship between fans and their idols through token-based decentralized interactions. This platform offers fans greater transparency and participation by stepping outside traditional structures in the fan economy."
MEET48's CEO Ken Xu emphasized the importance of the investment with the following words: "The MVB Accelerator program helped us clarify our vision. Now, with YZi Labs' investment, we are more determined to build a future where everyone can be the idol they dream of. This investment will empower both fans and artists."
With this investment, the rise of Web3 in the entertainment industry will gain momentum, and fan and idol interaction will be taken to a completely new level.$BNB