YG Entertainment has announced the renewal of contracts for all four members of K-pop supergroup Blackpink, as stated in the label's recent regulatory filing released on Wednesday. And shares of K-pop agency YG Entertainment spiked by as much as 29% after the company announced.

As their previous contracts ended in August, fans worldwide speculated anxiously about whether the stars would pursue solo careers, potentially ending one of South Korea's most successful musical exports. Now YG Entertainment finally officially announced their contract renewal, although the filing did not specify the length of their contracts. Also, YG Entertainment expressed that the new album and tours will be released soon.

Enter to NFT and Metaverse?

Last February, Binance collaborated with South Korean multinational entertainment agency YG Entertainment to venture into the digital realm of non-fungible tokens (NFTs) and gaming. Blackpink was also shown in the poster.

Regarding this contract renewal, we don’t know if Blackpink will participate in this collaboration between YG Entertainment and Binance. Or maybe YG Entertainment’s contract renewal has different restrictions for the members. After all, there are many rumours and speculations about the company restricting the development of certain members or not being reused. That’s why this contract renewal issue has attracted attention from all over the world.

Blackpink Already in Metaverse

During August this year, BLACKPINK came to Roblox for the first time with a new experience called BLACKPINK THE PALACE. In BLACKPINK THE PALACE, BLINKs can gather together to host parties, dance, and talk about everything BLACKPINK.

Also, the platform is providing fans with interactive spaces for games, clothing, music, badges, and more. The South Korean government has also expressed full support for Korean groups venturing into virtual spaces.

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The Opportunities in Luxury Brands

Each member—Jennie, Jisoo, Lisa, and Rosé—endorses distinct luxury brands: CHANEL, DIOR, CELINE, and SAINT LAURENT, respectively. In recent years, it's widely acknowledged that numerous global luxury brands are venturing into Web3. These brands primarily focus their developments in areas such as NFTs, gaming, and the Metaverse.

For instance, YSL Beauté Makes a Daring Step Into Web3.

And Dior introduced a new collection of men's shoes with a distinctive online authentication system and linked "Digital Twin" NFTs.

Undoubtedly, each member has become a standout ambassador for multiple brands, significantly boosting their brand endorsements' revenue. This raises speculation about potential future collaborations between these brands and the members in the emerging landscape of Web3 projects.