This yr’s sixty fourth Latin Grammy Awards may have its first-ever nonfungible token assortment after the Latin Recording Academy signed a three-year contract for award show-related NFTs.
The aforementioned partnership is between the Latin Recording Academy, which is behind the Latin Grammys, and OneOf, a Web3 music platform. Every assortment, which can lead as much as that yr’s award present, will embody drops highlighting Latin music.
In keeping with Manuel Abud, CEO of the Latin Recording Academy, it is a new type of musical innovation and a manner for followers to “personal a bit of the Latin GRAMMYs”:
“The Latin Recording Academy is dedicated to exploring revolutionary, new methods to rejoice excellence in Latin music and to attach music to different artwork types in our tradition, together with visible and digital arts.”
The Latin Grammy Awards NFTs will drop all through October within the lead-up to the award present on Nov. 18.
Associated: Grammys 2022: NFTs scorching subject of dialogue amongst musicians and trade specialists
This comes after OneOf’s partnership with the Grammy Awards, wherein it additionally deliberate a three-year NFT launch plan. The primary assortment was launched coinciding with the sixty fourth Grammys, for which Binance was the official crypto alternate accomplice.
The Grammys just isn’t the primary main award present with Web3 integrations. Earlier this yr, the MTV Video Music Awards introduced its latest award class of “Greatest Metaverse Efficiency.”
Moreover, music trade giants have been quickly adopting Web3 applied sciences to improve their companies. Sony Music filed a trademark utility for NFT-authenticated music on Aug. 30.
Musicians have been using the know-how to launch NFT singles or to enhance music rights and licensing. Furthermore, NFTs formally grew to become acknowledged as a chart-eligible format, with musicians resembling Muse benefiting from the event.
The journalist is a writer and digital nomad. Loves thinking, learning, and writing about all things Web3, particularly its impact on major creative industries.