Binance becomes crypto exchange partner for the 64th Grammys

Other partners for the 2022 Grammys include IBM, Mastercard, Grey Goose and Hilton hotels

Logo of cryptocurrency stock exchange Binance on a tablet                                 
Binance wants to show the capabilities of Web3 with its Grammys tie-in – Photo: Alamy
                                

Cryptocurrency exchange Binance has partnered with the Recording Academy to become the first-ever official crypto exchange partner of the annual Grammy Awards.

As the official crypto exchange partner, Binance has said it will work with the Recording Academy throughout 2022 “to bring various Web3 technology solutions and experiences to the organisation’s members, events and initiatives”.

The 64th Annual Grammy Awards will be taking place on Sunday 3 April in Las Vegas. Other partners for the 2022 Grammys include notable names such as International Business Machines (IBM), the American multinational technology corporation, American multinational financial services corporation Mastercard, Grey Goose vodka brand and Hilton hotels.

The Recording Academy is the American body representing learned musicians and musical technicians, which is responsible for organising the prestigious awards.

‘Innovative partners’

Panos A Panay, co-president of the Recording Academy, said: “As we continue to evolve the Recording Academy for a rapidly changing music industry and for the next generation of creators, we feel that it’s important to work with innovative partners to explore new monetisation avenues for our members and create new experiences for music fans.”

Panay described Binance as “the perfect partner for the Grammys” calling it a key player in the crypto and blockchain space and referring to its “community-focused approach”. 

Yi He, co-founder of Binance, added: “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.”

He said that the chance to work with the Grammys was exciting, and the first of a series of opportunities to show “all the great things Web3 technology can bring to entertainment”.

NFTs and the Grammys

Another official partner of the 64th Grammys is OneOf, a green non-fungible token (NFT) platform focused on the entertainment world. OneOf launched the first Grammy NFTs, designed by artists Emonee LaRussa, Andre Oshea and ThankYouX. The NFTs are minted on the Tezos (XTZ) blockchain.

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