The largest cryptocurrency exchange Binance is making strides into the mainstream! Binance signed an agreement with the Recording Academy, the academic association of musicians that hosts the Grammy Awards annually. Binance thus, became the first cryptocurrency exchange partner for the 64th Annual Grammy Awards.
The partnership, announced just a few days before the 64th Grammy Awards ceremony to be held on April 3 at the MGM Grand Garden Arena in Las Vegas, is yet another sign of the growing widespread popularity of the crypto space.
According to the press release, as the official partner of the Grammy Week events and the inaugural Recording Academy Honors celebration, Binance will work throughout the year to bring various Web3 technology solutions and experiences to the Academy, its members, and events.
Further information about the transaction, such as the financing and whether or not the cryptocurrency will be used in the transactions, has not been disclosed.
The statement by Yi He, Binance Co-Founder made headlines, “Starting with the GRAMMYs, we are excited to work together with the Recording Academy to bring fresh new experiences powered by blockchain and all the great things Web3 technology can bring to entertainment.”
Further comments also came from Panos A. Panay, Recording Academy Co-President, “As we continue to evolve the Recording Academy for a rapidly changing music industry and for the next generation of creators, we feel that it’s important to work with innovative partners to explore new monetization avenues for our members and create new experiences for music fans.”
We cannot have these culturally significant events without a crypto partner or a Web3 strategy. This is reflected in the Recording Academy’s explorations into the NFT world, as it signed a three-year deal with OneOf to release the exclusive Grammy NFT collection designed by artist ThankYouX.
While the Grammy Awards will be held in the coming days, the Recording Academy’s Virtual Grammy Week on the Roblox platform kicked off the celebration of great music already. The five-time Latin Grammy winner Camilo was steady to perform in the metaverse.