Latin Grammy Awards sign NFT to 3-year contract

The Latin Grammy Awards enter Web3 with their first NFT collection in collaboration with the OneOf Web3 music platform.

This year's 64th Latin Grammy Awards will have its first-ever collection of non-fungible tokens after the Latin Recording Academy signed a three-year contract for award-related NFTs.

The aforementioned partnership is between the Latin Recording Academy, which is behind the Latin Grammys, and OneOf, a web3 music platform. Each collection, leading up to that year's awards ceremony, will include drops showcasing Latin music.

According to Manuel Abud, CEO of the Latin Recording Academy, this is a new form of musical innovation and a way for fans to "own a piece of the Latin GRAMMYs":

"The Latin Recording Academy is committed to exploring new and innovative ways to celebrate excellence in Latin music and connect music to other art forms in our culture, including visual and digital arts. ."

The Latin Grammy Awards NFTs will drop throughout October before the awards show on November 18.

Related: Grammys 2022: NFTs Being Discussed Among Musicians and Industry Experts

This comes after OneOf's partnership with the Grammy Awards, in which it also laid out a three-year NFT release plan. The first collection was released coinciding with the 64th Grammys, for which Binance was the official crypto exchange partner.

The Grammys aren't the first major awards show with Web3 integrations. Earlier this year, the MTV Video Music Awards announced their brand new award category: "Best Metaverse Performance".

In addition, music industry giants have been rapidly adopting Web3 technologies to upgrade their businesses. Sony Music