Binance is sponsoring this year’s Grammys. According to a Friday blog, the crypto exchange noted that it had signed on ‘to become the official cryptocurrency exchange partner of the 64th Annual GRAMMY awards making it the first of its kind to land the prestigious role.
“We are excited to announce that we have signed a partnership agreement with the Recording Academy to become the first-ever official cryptocurrency exchange partner for the 64th Annual GRAMMY Awards and GRAMMY Week events, including the inaugural Recording Academy Honors celebration.” Read the announcement.
The exchange went on further to state that they would continue to work with the recording academy beyond the awards which are scheduled for April 3 in Las Vegas. Part of their engagements will include bringing ‘various web 3 technology solutions and experiences to the organization’s members, initiatives and events’.
“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,” Binance co-founder Yi He said following the partnership.
Last year, the Grammy Awards tapped into the Web 3 foray after signing a three-year partnership agreement with ‘One of’, a non-fungible token (NFT) platform built on the Tezos blockchain and is expected to start releasing NFTs for the upcoming Grammy Awards.
With crypto exchanges racing up to cement their user base, popular events have become a top priority in their marketing plans. The Grammy Awards which recognize the best recordings, compositions, and artists draw global attention, a situation that Binance seeks to capitalize on in an attempt to boost its global visibility and trade volume.
This will be the second-largest step yet by the exchange to make itself visible this year yet after it sponsored the African Cup of Nations (AFCON) in the first quarter. From the concluded Crypto Bowl to the Oscar Awards to the upcoming 2022 FIFA World Cup, one now understands why Coinbase, Crypto.com, and FTX seem to all want a slice of the red carpet.