The world’s largest cryptocurrency exchange by trading volume, Binance, has announced that it would be a key sponsor of Canadian hip-hop musician The Weeknd’s “After Hours Til Dawn” tour.
According to the trading platform, this sponsorship will be the first of its type, and it will also be the first global concert tour to include Web 3.0 technologies for a better fan experience.
Binance has made a concerted effort in recent years to bridge the gap between culture and sports, and it has made its influence felt through sponsorships and investments. The trading platform said it would engage with HXOUSE, a think-center and community incubator for creative businesses, to develop an exclusive NFT collection for The Weeknd’s tour and co-branded tour products as part of its collaboration with The Weeknd.
The Binance exchange also announced that it would give $2 million to The Weeknd’s XO Humanitarian Fund, which aims to help people living in the world’s most hunger-stricken places.
The World Food Programme (WFP) manages the fund, and as part of their support, Binance and The Weeknd will collaborate on a specially created NFT line, with 5% of sales going to the XO Humanitarian Fund.
Binance has been identified as a significant sponsor of major events in recent months, such as the Africa Cup of Nations, and its humanitarian initiatives in Ukraine are among the most comprehensive. While the trading platform aims to shift its attention to obtaining the appropriate licenses through the development of functional connections with regulators, it is not ignoring the value of good PR through its multiple partnerships.
According to Blockchain.News, as a result of these intelligent collaborations, the Binance exchange was recognized as one of the sponsors of this year’s Grammy Awards. Based on the current pattern, more similar news is expected to be revealed in the near future.