Binance, the world’s largest cryptocurrency exchange, is now a proud sponsor of the 64th Annual Grammy Awards.
Binance Takes The Musical Route:
The exchange was named the official crypto partner of the Recording Academy, which organizes the Grammy Awards.
The Recording Academy has announced its partners for the forthcoming Grammy Awards in 2022. Meanwhile, Binance, one of the sponsors, said it is the “first crypto partner of the GRAMMY Awards”.
The exchange will also be able to “bring Web3 technology solutions” to the Royal Academy’s activities as a result of the agreement. While there are no concrete specifics on the partnership, Binance hinted that it could extend beyond the Grammy Awards.
Yi He, the co-founder of Binance, said in a statement: “We’re pleased to collaborate with the Recording Academy, starting with the Grammys, to deliver innovative new experiences powered by blockchain and all the fantastic things Web3 technology can bring to entertainment.”
The sponsorship news comes only days before the 64th annual Grammy Awards, which is set to take place at the MGM Grand Garden Arena in Las Vegas on April 3rd. Mastercard, IBM, Hilton, and FIJI Water are among the other sponsors for the Grammys in 2022.
Meanwhile, this isn’t the Recording Academy’s first step into the world of cryptocurrency and blockchain. In November, the organization announced a three-year agreement with OneOf, a non-fungible token (NFT) marketplace, which is also a Grammy sponsor this year.
One will create NFTs on the Tezos blockchain to celebrate the 64th, 65th, and 66th annual Grammy Awards as part of the transaction.
Crypto and Music Are Increasingly Synergistic:
FTX is another cryptocurrency exchange that has worked with a music-related enterprise, in addition to Binance.
The exchange’s European affiliate, FTX Europe, teamed up with Tomorrowland, a Belgian electronic dance music festival, to promote Web3 to fans. FTX US worked with Coachella, a prominent music event, to offer an NFT collection on the Solana blockchain in February.
A growing number of musicians have turned to the NFT environment for inspiration. In February 2022, popular singer and 12-time Grammy Award winner John Legend established OurSong, a music NFT platform.
Snoop Dogg and Wiz Khalifa, two American rappers, have also created a song about the Bored Ape Yacht Club (BAYC) and ApeCoin (APE). Other well-known performers who own a Bored Ape NFT include Madonna, Eminem and Justin Bieber.
