Binance partners with Recording Academy to offer services in the 64th Grammy Awards

The major music recording company known for its annual music awards Grammy Awards, the Recording Academy has teamed up with the world’s biggest crypto exchange, Binance. As per the official announcement, Binance becomes the first-ever formal crypto exchange to partner with the 64th Annual Grammy Awards and Grammy Week events with the aim to bring multiple Web3 tech solutions and experiences to the projects and events. Notably, the world is going to see the 64th Grammy Awards ceremony on April 3 at the Las Vegas’ MGM Grand Garden Arena.

Panos Panay, the co-president of Recording Academy, highlighted that the deal aims to develop new monetization avenues for the organization and to create new experiences for music fans. He added:

“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.”

Binance co-founder expressed pleasure in partnership

On the other hand, Yi H, the co-founder of Binance also expressed pleasure regarding the partnership and said, “We were impressed by the Recording Academy’s ability to meet changing demands by its community—this is something we mutually share as a company that puts users and people first. Starting with the GRAMMYs, we are excited to work together with the Recording Academy to bring fresh new experiences powered by blockchain and all the great things Web3 technology can bring to entertainment.”

The Recording Academy’s collaboration with Binance isn’t the organization’s first journey into the worlds of music and cryptocurrency. In November last year, 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, this is Binance’s first collaboration with a music organization. Through its Binance NFT platform, which opened last year, the crypto exchange is still actively working with music artists. The international luxury brand Jimmy Choo launched its first NFT collection on the platform. Crypto exchange Coinbase also partnered with American Music distributor, UnitedMasters to offer crypto payments for music artists.