Recording Academy, a major music recording company known for its annual Grammy Music Awards, has partnered with Binance, the world's largest trading crypto exchange.
According to a joint announcement last March 31st 2022, Binance became the first official partner of the 64th Grammy Awards and Grammy Week events in the field of crypto exchanges, which will bring various technological solutions and Web3 experiences to the organization's events and projects. The partnership was announced just days before the 64th Grammy Awards, which will take place on April 3rd 2022 at the MGM Grand Garden Arena in Las Vegas.
Panos Panay, co-president of Recording Academy, said the agreement envisages the development of new monetization opportunities for Recording Academy and the creation of new experiences for music fans:
“AS A LEADING CRYPTO EXCHANGE AND BLOCKCHAIN PLAYER AND THANKS TO ITS COMMUNITY APPROACH, BINANCE IS THE IDEAL PARTNER FOR GRAMMY AND OUR MISSION TO STRENGTHEN THE PEOPLE WHO WILL HAVE
According to Binance co-founder Yi He, the new partnership will enable the Recording Academy to meet the changing demands of its community by providing a fresh new experience based on blockchain and "all the great things Web3 technology can bring to entertainment". A spokesman for Binance this time declined to say whether the partnership would involve the use of cryptocurrency, but the parties plan to release more details later:
"WE ARE CURRENTLY DISCUSSING AND EXAMINING A RANGE OF OPTIONS."
This partnership further reinforces Binance's commitment to working with mainstream companies to increase cryptocurrency acceptance. In early March 2022, Binance CEO Changpeng Zhao (aka CZ) announced their plan to identify and invest in one or two targets in each economic sector and try to lead them to cryptocurrencies. The cryptocurrency giant has previously invested $200 million in Forbes magazine as part of its mission to improve consumer understanding of cryptocurrencies and blockchain.