Binance becomes the first-ever crypto company to sponsor the GRAMMY

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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 also includes the inaugural Recording Academy Honors event.

The partnership agreement means Binance will work with the event organizers throughout the year and bring various Web3 solutions to the initiatives.

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

The deal will introduce fans to web3 technology

This is the first time Binance has partnered with a music organization. Binance co-founder Yi He commented on the partnership, stating that the sponsorship deal will enable Recording Academy to meet the evolving demands of its community. It will provide a new experience based on blockchain as well as the great benefits of Web3 technology. The co-founder added that Web3 and blockchain technology could play an important role in the entertainment industry and this partnership is a great way to explore those benefits.

However, a Binance spokesperson did not provide a definitive answer as to whether the sponsorship deal requires the use of crypto assets. However, the spokesperson noted that more details about the deal will be announced as soon as possible. “We are currently discussing and investigating various options,” the spokesperson added.

New Experience for Music Fans Powered by Blockchain Technology

Recording Academy co-president Panos Panay said the collaboration agreement looks at developing a new way to generate revenue. This will enable music lovers to enjoy new experiences as digital technology continues to permeate the music industry.

Panay added that Binance is undoubtedly the leading player in the crypto and blockchain industry. Its community-based approach makes the company the ideal partner for GRAMMY and for its goal of “empowering music people around the world.”

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