Crypto exchange Binance is sponsoring the Grammys this year

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Global blockchain company Binance has signed a partnership agreement with the Recording Academy, a leading music recording company, to sponsor the 64 annual Grammy Awards and Grammy Week events, including the inaugural Recording Academy Honors celebration.

The partnership aims to showcase emerging Web3 technology solutions and experiences at the organization’s events and projects.

“As the Official Crypto Exchange Partner of the GRAMMY Awards, Binance will continue to work with The Recording Academy throughout the year to bring various Web3 technology solutions and experiences to the organization’s members, events and initiatives,” said Binance said in a statement.

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Commenting on the development, Recording Academy Co-Chair Panos A. Panay said, “As we continue to evolve The Recording Academy for a rapidly changing music industry and for the next generation of creators, we we believe it is important to work with innovative partners to explore new avenues of monetization for our members and create new experiences for music fans.”

“As a leading crypto and blockchain player and with its community-centric approach, Binance is the perfect partner for the GRAMMYs and our mission to empower musicians everywhere,” he added.

Binance co-founder Yi He said, “We’ve been impressed with The Recording Academy’s ability to respond to the changing demands of its community – it’s something we share with each other as a company that gives putting users and people first.”

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“Starting with the GRAMMYs, we’re excited to be working with The Recording Academy to bring new, never-before-seen experiences powered by blockchain and all the great things Web3 technology can bring to entertainment,” he added.

Binance said additional partnership details will be announced at a later date.

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