Cryptocurrency exchange Binance has partnered with The Recording Academy to sponsor the 64th Grammy Award scheduled for April 3, 2022, in Las Vegas.
The largest exchange by trading volumes notes that its role in the event, which seeks to award the best performing artists of 2021, could extend beyond the marketing opportunity.
Binance notes that the collaboration is the first of a kind bringing together a cryptocurrency exchange and the academy.
Binance adds that the company plans to work with the event organizer in related services supported by blockchain technology and Web3. The partnership will reportedly be centered on NFTs and content monetization aspects.
The partnership marks part of the Web3 initiatives by the Grammys, which announced a similar partnership with OneOf NFT last year.