The Weeknd (Abel Tesfaye) will kick off his ‘After Hours Til Dawn’ worldwide tour on July 8 at the Rogers Centre in Toronto.
According to a press statement from the singer, the stadium tour will be “the first international concert tour to incorporate Web 3.0 technology for a better fan experience,” with cryptocurrency exchange Binance named as the event’s official sponsor.
Binance has partnered with HXOUSE, a Toronto-based “think-center and community incubator” for creative businesses, to create an exclusive NFT line as well as co-branded tour kit for The Weeknd’s next tour.
According to Binance, attendees’ virtual ticket stubs may also unlock “commemorative” NFTs, which will provide fans with new experiences.
Binance Labs, the company’s venture capital and incubator arm, revealed this week that it has opened a new $500 million investment fund with institutional investors including DST Global Partners and Breyer Capital.
According to Binance, the new fund will invest in efforts that “extend the use cases of cryptocurrencies and stimulate the use of Web3 and blockchain technology.”
According to the press announcement announcing the tour sponsorship, The Weeknd established the XO Humanitarian Fund earlier this year as a United Nations World Food Programme (WFP) Global Goodwill Ambassador.
To honor the commencement of the tour, Binance has announced a $2 million commitment to the XO Humanitarian Fund, which is handled by World Food Program USA.
Furthermore, The Weeknd and Binance are partnering on a specifically designed NFT collection, with a portion of the revenues benefiting the XO Humanitarian Fund.
According to the author, “Binance is all about community, people, and inclusion.” The Weeknd said, “I was struck by their user-centric approach and imaginative edge.”
“Collaborating made perfect sense, and I can’t wait for people to experience crypto via a creative medium while simultaneously contributing to a worthwhile cause.” Crypto has enormous potential, and I feel we are just at the beginning.”
“We are excited to be the sole crypto partner of The Weeknd’s tour, providing fans and people with a new way to engage with crypto,” said Binance Co-Founder Yi He.
“Crypto is a community-centric platform, and we believe our collaboration represents that by showcasing local artists and giving back to the community via a mainstream platform.”
The Weeknd’s partnership with Binance follows the announcement in April by Universal Music Group of a wide, long-term contract with the singer.
According to the deal, The Weeknd’s composition portfolio and all future works will be handled by Universal Music Publishing Group (UMPG) “under a new long-term collaboration, following the expiration of his prior contract.”
The comprehensive arrangement strengthens The Weeknd’s association with UMG’s Republic Records, which has been his label partner since 2012 and will, according to UMG, continue to be his label partner for future recorded music releases.