Binance has announced a major new partnership with Recording Academy, the organisation behind the GRAMMY Awards. The exchange platform will be the official sponsor of the 64th edition of the world-famous American music awards event
Binance and the GRAMMY Awards
The Recording Academy, also known as the National Academy of Recording Arts and Sciences, is an American organization of musicians, producers, recording engineers and others in the music industry. In particular, it is the organisation that runs the GRAMMY Awards ceremony, one of the most important music awards for an artist.
This Thursday, Binance announced that it had signed a partnership with the Recording Academy to become the official sponsor of the 64th edition of this event. The event will be held on April 3 at the MGM Grand Garden Arena in Las Vegas.
For the moment, the ambition behind this partnership remains very vague. All we know is that it will allow Binance to bring “web 3.0 type solutions” to the Recording Academy’s music community. What are these solutions? Who is the target audience? Nothing more has been communicated.
Nor has the amount of the contract been revealed. All we know is that the partnership will not only cover this year’s edition, and that more information is expected to come soon.
Grammy Awards interest in cryptocurrencies
This partnership with Binance, while significant, is not the first on the Recording Academy’s list. Back in November 2021, the organisation had already set foot in the cryptocurrency industry by partnering with OneOf, a non-fungible token (NFT) marketplace on the Tezos (XTZ) blockchain.
This exclusive partnership will really come to life during the next three editions of the GRAMMY Awards. Indeed, NFTs are planned to be issued specifically to celebrate the 64th, 65th and 66th editions of the famous American ceremony.
The GRAMMYs are coming to Tezos!
NFT platform @OneOfNFT, built on @Tezos, is entering the first-of-its-kind partnership with @RecordingAcad to create digital collectible NFTs to commemorate the 64th, 65th, and 66th GRAMMY Awards. Tezos CleanNFThttps://t.co/boPNYAT9Q0
– Tezos (@tezos) December 9, 2021
Recording Academy co-chair Panos Panay said the deal would create unique experiences for music fans and develop new monetisation avenues for his organisation, using Web 3.0 solutions.
“As a leading player in the cryptocurrency and blockchain space and with its community-focused approach, Binance is the perfect partner for GRAMMYs and for our mission to empower music people worldwide,” explained Panos Panay.
This partnership reinforces Binance’s ambition to work with mainstream companies to accelerate the adoption of cryptocurrencies. As a reminder, since the start of 2022, the exchange has already partnered with Formula 1 team Alpine and the 2022 African Nations Cup.
