Binance Becomes Grammy Awards Official Crypto Exchange Partner

Binance is the first-ever official crypto exchange partner of the 64th Annual Grammy Awards and Grammy Week activities.

According to a joint announcement on Thursday, bringing numerous Web3 technology solutions and experiences to the organization’s events and projects.

iexclusivenews reports that the Recording Academy, a significant music recording company best known for its annual Grammy Awards.

The collaboration was announced just a few days before the 64th Grammy Awards, which will be held at the MGM Grand Garden Arena in Las Vegas on April 3rd.

The deal envisions the development of new revenue avenues for the Recording Academy.

As well as the production of new experiences for music fans, according to Panos Panay, co-president of the Recording Academy.

“As the leading player in the crypto and blockchain space and with its community-focused approach. Binance is the perfect partner for the GRAMMYs and for our mission to empower music people around the world,” Panay added.

The new relationship will allow the Recording Academy to fulfill the changing expectations of its community.

By providing fresh new experiences based on blockchain and “all the fantastic things Web3 technology can bring to entertainment,” according to Binance co-founder Yi He.

Binance’s representative declined to say whether the relationship will involve the use of cryptocurrency.

Saying that the parties would reveal more details at a later date.

“A lot of options are currently being discussed and explored,” the spokesman stated.

The Recording Academy’s collaboration with Binance isn’t the organization’s first journey into the worlds of music and cryptocurrency.

In November 2021, the Recording Academy made a significant stride into the business by partnering with OneOf.

A nonfungible token (NFT) marketplace funded by record producer Quincy Jones.

To commemorate the 64th, 65th, and 66th Grammy Awards.

The exclusive cooperation plans to release digital collectible NFT drops on the Tezos blockchain.

On the other hand, a spokeswoman for Binance informed Cointelegraph that this is the first time the company has cooperated with a music organization.

Through its Binance NFT platform, which opened last year, the cryptocurrency exchange is still actively collaborating with artists and musicians.

Binance’s dedication to working with mainstream companies to increase bitcoin acceptance is reinforced by this agreement.

Binance CEO Changpeng Zhao revealed in early March that the exchange planned to find and invest in one or two targets in each economic area, with the goal of bringing them into crypto.

On its quest to improve consumer knowledge of cryptocurrencies and blockchain, the cryptocurrency behemoth recently invested $200 million in Forbes magazine.