Binance has entered a partnership with the Recording Academy to become the first-ever crypto exchange partner for the 64th annual Grammy Awards, to be held on April 3 at the MGM Grand Garden Arena in Las Vegas, US.
As per a statement from Yi He, co-founder of Binance, partnering with the Recording Academy will bring “fresh new experiences powered by blockchain and all the great things Web3 technology can bring to entertainment”:
There are no further details about the partnership as yet. However, it appears Binance is already rolling out plans to make it more than just a branding opportunity. As per the statement:
Binance will continue to work with the Recording Academy throughout the year to bring various Web3 technology solutions and experiences to the organisation’s members, events and initiatives.
Binance statement
Crypto Permeates Entertainment Industry
The increasing popularity of NFTs (non-fungible tokens) is making it harder for leading organisations in the entertainment industry to ignore the potential opportunities to work with this emerging sector, which is taking over the mainstream at a fast pace.
This is the second time the Recording Academy hass collaborated with crypto companies. As Crypto News Australia reported last November, the organisation announced that NFT collectibles would be awarded as prizes at the Grammys thanks to a collaboration with Tezos-based NFT platform OneOf:
Crypto Also Increases its Sports Presence
Binance is not the only exchange making waves in the entertainment world. Just a week ago, Crypto.com became the official crypto sponsor for the 2022 FIFA World Cup, with the objective to bring awareness of the brand to billions of users who tune in to watch the tournament.
In January, Crypto.com also announced a five-year A$25 million sponsorship deal with the Australian Football League for both its men’s and women’s competitions.
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