Crypto exchange Binance is set to sponsor musician The Weeknd’s “After Hours Til Dawn” world tour which begins on July 8. The popular musician is very much in love with NFTs ever since the market heated up.
Binance describes the event, which will kick off in the US and Canada, as the first global concert tour to tap Web3 technology – a crypto-powered tour. The crypto exchange will work with the Toronto-based HXOUSE community incubator to develop an NFT collection with co-branded merchandise. The concert-goers will receive a virtual ticket stub that can be redeemed for commemorative NFTs.
Binance, as part of the partnership, will donate $2 million to the XO Humanitarian Fund. The Weeknd had established the fund earlier this year in his role as a United Nations World Food Programme (WFP) Global Goodwill Ambassador. The crypto exchange and the musician will also collaborate on additional non-fungible tokens, whereby they will donate 5% of the NFT sales to the fund.
The Weeknd (born Abel Tesfaye) said Binance is all about the community, people, and inclusion. He is impressed by the platform’s focus on users and innovative edge. The musician said it made perfect sense to work together and for his fans to experience crypto within a creative avenue while supporting a good cause. The Weeknd sees so many possibilities with crypto and this is just the beginning.
Yi He, Binance Co-founder, expressed excitement about the collaboration. He said fans will get the chance to interact with crypto in a new avenue. The crypto exchange believes the partnership empowers local artists and gives back through a mainstream platform.