Binance adds the GRAMMYS feather to its partnership cap
Binance announced on April 1 that it had signed a partnership agreement with The Recording Academy to become the first cryptocurrency exchange partner of the 64th GRAMMY Awards.
The award ceremony is scheduled for April 3. Binance will also act as a partner for GRAMMY® Week events, including the inaugural Recording Academy Honors celebration, according to the announcement.
“Starting with the GRAMMYs, we’re excited to work 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.”
Binance co-founder Yi He spoke about the partnership. The world’s largest crypto exchange by trading volume added that further details of the partnership will be announced in the future. It is likely that the company will release more information once the event begins.
Meanwhile, Recording Academy Co-Chair Panos A. Panay said the crypto exchange was the “perfect partner” for the organization to pursue its goals of empowering those involved in the music industry around the world.
Binance and various other crypto exchanges have been on the marketing warpath for the past few months, signing partnership and sponsorship deals worth millions of dollars across the globe.
Binance in particular has targeted multiple industries to bring its brand to a wider audience. The GRAMMYS are the second music-related organization the company has partnered with. In February, the crypto exchange sponsored the seventh season of Nigerian Idol.
Days earlier, the company bought a $200 million stake in Forbes magazine to get two of the seats on Forbes’ nine-person board.
Invest in the new and the old, and link them with crypto.
Binance takes $200 million stake in Forbes https://t.co/DzR2iXGzmh
— CZ 🔶 Binance (@cz_binance) February 10, 2022
Binance intends to use all of these different partnerships to create a web through which it can connect all of these different industries to crypto. Binance CEO Changpeng Zhao recently stated that his strategy is to “enlarge the crypto industry“.
Binance has also ventured into the sports industry, especially through football which is the most popular sport in the world, with the aim of reaching the multi-billion strong fan base. The company recently signed an agreement to sponsor the Argentine Football Association and help issue a fan token.
In January 2022, the crypto exchange signed a deal to become the official sponsor of the 2021 Africa Cup of Nations. Meanwhile, world famous football club FC Barcelona tweeted in the same month that Binance was the leading contender to become its next main shirt sponsor, having previously helped the club create a fan token.
Binance is the main contender to become Barcelona’s main shirt sponsor for next season. The club is looking for 70 million euros and a 4 or 5 year contract.
– Barca Universal (@BarcaUniversal) January 15, 2022
However, in late February, FC Barcelona rejected Binance’s offer, citing a lack of trust in the crypto industry.