Latin Grammy Awards signs three-year contract for award show NFTs

This year’s 64th Latin Grammy Awards volition person its first-ever nonfungible token (NFT) postulation aft the Latin Recording Academy signed a three-year declaration for grant show-related NFTs.

The aforementioned concern is betwixt the Latin Recording Academy, which is down the Latin Grammys, and OneOf, a Web3 euphony platform. Each collection, which volition pb up to that year’s grant show, volition see drops highlighting Latin music.

According to Manuel Abud, the CEO of the Latin Recording Academy, this is simply a caller signifier of philharmonic innovation and a mode for fans to “own a portion of the Latin GRAMMYs."

“The Latin Recording Academy is committed to exploring innovative, caller ways to observe excellence successful Latin euphony and to link euphony to different creation forms successful our culture, including ocular and integer arts."

The Latin Grammy Awards NFTs volition driblet passim October successful the pb up to the grant amusement connected Nov. 18.

Related: Grammys 2022: NFTs blistery taxable of treatment among musicians and manufacture experts

This comes aft OneOf’s concern with the Grammy Awards, successful which it besides planned a three-year NFT merchandise plan. The archetypal postulation was released coinciding with the 64th Grammys, for which Binance was the authoritative crypto exchange partner.

The Grammys are not the archetypal large grant amusement with Web3 integrations. Earlier this twelvemonth the MTV Video Music Awards announced its newest grant class of “Best Metaverse Performance."

Additionally, euphony manufacture giants person been rapidly adopting Web3 technologies to upgrade the business. Sony Music filed a trademark exertion for NFT-authenticated music connected Aug. 30 of this year.

Musicians person been utilizing the exertion to merchandise NFT singles oregon to amended euphony rights and licensing. Moreover, NFTs officially became recognized arsenic a chart-eligible format, with musicians specified arsenic Muse taking vantage of the development.