Binance Becomes First-Ever Crypto Company To Sponsor The GRAMMY

Binance has announced that it has signed a major sponsorship deal with Recording Academy® to become the official partner of the 64th Annual Grammy Awards. This makes Binance the first-ever cryptocurrency exchange to become a sponsor of the prestigious global award event. The event will also include the inaugural Recording Academy Honors event.

The partnership deal means that Binance will be working with the organizers of the event throughout the year, bringing various Web3 solutions to the initiatives.

The 64th Grammy Awards will be held on April 3. It will also feature exclusive NFTs through the one marketplace, issued on Tezos.

The Deal Will Introduce Fans To Web3 Technology

This will be the first time Binance will be partnering with a music organization. Binance Co-founder Yi He, while commenting on the partnership, stated that the sponsorship deal will allow Recording Academy to meet the changing demands of its community. It will offer a new experience that is based o blockchain, as well as the great benefits of Web3 technology. The co-founder added that Web3 and blockchain technology can have a major role to play in the entertainment industry and this partnership is a great way to explore those benefits.

However, a spokesperson of Binance did not give a definite reply when asked whether the sponsorship deal will require the use of crypto assets. However, the spokesperson noted that more details about the deal will be disclosed as soon as possible.  “We are currently discussing and exploring several possibilities,” the spokesperson added.

New Experience For Music Fans Powered By Blockchain Technology

Co-president of Recording Academy, Panos Panay, stated that the partnership deal looks at the development of a new monetization avenue. This will enable music fans to gain new experiences as digital technology keeps penetrating the music industry.

Panay added that Binance is no doubt the leading player in the crypto and blockchain industry. Its community-focused approach makes the firm the ideal partner for GRAMMY as well as for its goal to “empower music people around the world.

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