Technology
BINARY Teams Up With Coinbase To Facilitate Creator-Fan Payments Using AI, Web3 Technology
BINARY KOREA, a subsidiary of HYBE, signed a memorandum of understanding with Coinbase to develop an Onchain Engagement Protocol.
The partnership focuses on integrating AI and Web3 solutions to streamline payments between fans and creators.
The collaboration will leverage Coinbase’s Developer Platform and Base blockchain to power BINARY’s new protocol, which will launch in 2025.
The Coinbase Developer Platform will facilitate on-chain donations and functionality. Transactions will be powered by the Base network, promising faster and more cost-effective payments for fans and influencers.
This technology will be integrated into THEUS, BINARY’s existing creator fandom platform. The platform has attracted over 50,000 users and features over 35 creators.
Key features of the Onchain Engagement Protocol include:
- AI-powered influencer discovery systems
- Autonomous engagement management using AI agents
- An integrated token economy compatible with Coinbase wallets
“In partnership with Coinbase, we believe that the new Onchain Engagement Protocol will significantly enhance engagement between creators and fans by promoting active user participation within THEUS and other communities to be involved,” BINARY CEO Sungmin Kim said in a news release.
“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,” stated Dan Kim, VP of Business Development at Coinbase.
Tapping into Blockchain’s Potential
Only1, a crypto startup building an OnlyFans-type adult content platform on the Solana blockchain, recently raised $1.3 million in a strategic investment, bringing Only1’s total funding to $4.8 million. The company aims to disrupt the centralized adult content industry dominated by OnlyFans.
In June, a new blockchain-based music platform, Stage, introduced a model that rewards musicians and fans. It allows artists to upload video performances and compete in “rounds” for a chance to rise to stardom.
In July, Web3 platform STIX partnered with CREATOR to bring meme-based crypto engagement to a potential audience of 30 million monthly active users. The collaboration aims to connect traditional UGC to the crypto world.
