W-Foundation’s Strategic Partnership with YG Investment
Official announcement: W-Foundation reaches a strategic partnership agreement with YG Investment
W-Foundation is excited to announce a strategic partnership with YG Investment, the investment arm of YG Entertainment Inc., South Korea’s leading entertainment company that manages top entertainers such as Big Bang, Winner, 2NE1 and Blackpink. This partnership milestone marks the first step towards working together in promotion of the HOOXI campaign, W-Foundation’s government-backed Greenhouse Gas (GHG) reduction movement.
As part of the partnership agreement, YG Investment will make a significant strategic investment in W-Foundation’s W Green Pay (WGP) tokens. WGP will power HOOXI campaign’s gamified mobile app’s reward program that incentivizes the public to perform GHG reduction activities. Leveraging the connectivity of W-Foundation’s global partners, WGP holders will be able to use WGP in their daily lives when paying for goods and services at various online and offline merchant stores.
Han, Sang Bong, the CEO of YG Investment said: “We believe that the HOOXI campaign is a project that demonstrates the applicability of blockchain technology to benefit the community, and at the same time, create a positive impact for the ecosystem. Using the reach of technology and media, and by partnering with W-Foundation, we can look forward to reaching people in meaningful ways to help improve the environment.”
YG Entertainment has long been a sponsor of W-Foundation and the HOOXI campaign. The strategic investment in WGP through its investment arm is expected to deepen YG Entertainment’s involvement in W-Foundation’s HOOXI campaign. Drawing on the fanbase of YG’s stars from home and abroad, the HOOXI campaign will be able to achieve a wider reach, and better encourage the public to adopt environmentally friendly behaviours.
Besides being a leader in the entertainment industry, YG Entertainment currently operates a talent agency, cosmetic brand, clothing line, event management and concert production company. Its current team of notable stars who gained international fame include CL and iKON, as well as actors and actresses such as Kang Dong-won, Choi Ji-woo, Cha Seung-won, and Lee Jong-suk.
“The partnership with YG, the most influential player in South Korea’s media and entertainment industry, will be an exciting trigger for the HOOXI campaign. With the support and influence of YG, we will be able to drive mass market adoption of the HOOXI mobile application, and work towards the vision of reducing GHG emission worldwide,” added Youree Lee, CEO and Co-Founder of W-Foundation.