Binance Is Sponsoring the Grammys This Year

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.

Read more: NFT Platform OneOf Signs 3-Year Deal With Grammys