This 12 months’s sixty fourth Latin Grammy Awards could have its first-ever nonfungible token (NFT) 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 is able to lead as much as that 12 months’s award present, will embrace drops highlighting Latin music.
In line with Manuel Abud, the CEO of the Latin Recording Academy, it is a new type of musical innovation and a means for followers to “personal a bit of the Latin GRAMMYs:”
“The Latin Recording Academy is dedicated to exploring modern, 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 matter of dialogue amongst musicians and trade specialists
This comes after OneOf’s partnership with the Grammy Awards, during which 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 are usually not the primary main award present with Web3 integrations. Earlier this 12 months the MTV Video Music Awards introduced its latest award class of “Finest Metaverse Efficiency.”
Moreover, music trade giants have been quickly adopting Web3 applied sciences to improve their companies. Sony Music filed a trademark software for NFT-authenticated music on Aug. 30 of this 12 months.
Musicians have been using the expertise to launch NFT singles or to enhance music rights and licensing. Furthermore, NFTs formally turned acknowledged as a chart-eligible format, with musicians similar to Muse benefiting from the event.
