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Binance Is Sponsoring the Grammys This Year

The crypto exchange said Web 3 initiatives with the Recording Academy are also in the works.

By Zack Seward

Updated May 11, 2023, 3:59 p.m. Published Mar 31, 2022, 2:27 p.m.

Megan Thee Stallion poses with her trophies at the 63rd Annual Grammy Awards on March 14, 2021. (Kevin Mazur/Getty Images for The Recording Academy)

Binance wants its slice of the red carpet.

The company said in a press release Thursday that it is "the first-ever official cryptocurrency exchange partner" of the Recording Academy, the organizer of the annual Grammy Awards.
In a year of Super Bowl ad blitzes and Oscars TV spots, the Binance deal aims to get the world's largest crypto exchange by trade volume into the Hollywood spotlight.
Held this year in Las Vegas on April 3, the Grammys are meant to honor 2021's best musical performances.
Binance said in a press release that the partnership with the Recording Academy could extend beyond just a branding opportunity.
"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 in a statement.
It's not the Grammys' first Web 3 foray. Last November, the awards show tapped the Tezos-based OneOf non-fungible token (NFT) platform for a three-year partnership.

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Zack Seward

Zack Seward is CoinDesk’s contributing editor-at-large. Up until July 2022, he served as CoinDesk’s deputy editor-in-chief. Prior to joining CoinDesk in November 2018, he was the editor-in-chief of Technical.ly, a news site focused on local tech communities on the U.S. East Coast. Before that, Seward worked as a reporter covering business and technology for a pair of NPR member stations, WHYY in Philadelphia and WXXI in Rochester, New York. Seward originally hails from San Francisco and went to college at the University of Chicago. He worked at the PBS NewsHour in Washington, D.C., before attending Columbia’s Graduate School of Journalism.