The 64th Grammy Awards will provide one-of-a-kind Tezos NFTs via the OneOf marketplace on April 3rd.
The Recording Academy, which hosts the Grammy Awards every year, has teamed up with Binance, the world’s largest cryptocurrency exchange by trading volume.
According to a joint announcement issued on Thursday, Binance has become the first official crypto exchange partner of the 64th Annual Grammy Awards and Grammy Week celebrations.
The collaboration was announced only days before the 64th Grammy Awards, which took place at the MGM Grand Garden Arena in Las Vegas on April 3rd.
According to Panos Panay, co-president of the Recording Academy, the relationship will provide new revenue prospects for the Academy as well as new music fan experiences.
“Binance is the ideal partner for the GRAMMYs and our goal of inspiring music fans all across the globe,” Panay added.
According to Binance co-founder Yi He, providing new experiences based on blockchain and “all the amazing things Web3 technology can give to entertainment.”
The parties will disclose additional details later, according to a Binance official, who declined to specify whether the connection would employ bitcoin. The representative remarked, “We are constantly discussing and analyzing different solutions.”
The Recording Academy’s relationship with Binance is not the organization’s first move into blockchain and music. The Recording Academy announced a partnership with OneOf, a nonfungible token (NFT) marketplace founded by Quincy Jones, in November 2021. The unique cooperation will provide digital collectible NFT drops on Tezos for the 64th, 65th, and 66th Grammy Awards.
However, a spokeswoman for Binance said that this is the company’s first collaboration with a music group. Through its Binance NFT platform, the cryptocurrency exchange continues to cooperate with artists and musicians.
As a result, Binance is dedicated to collaborating with mainstream firms in order to broaden bitcoin acceptability.
In early March, Binance CEO Changpeng Zhao said that the exchange would seek out and invest in one or two targets in each economic sector. Coinbase previously invested $200 million in Forbes magazine to help people understand cryptocurrency and blockchain.