The Latin Recording Academy, responsible for putting on the Latin Grammy Awards has signed a three-year deal for award show NFTs. Find out how the collection shines a light on the best of Latin music, and innovates major award ceremonies.
This year welcomes the 64th Latin Grammy Awards ceremony, and an exciting new NFT is changing how the event is taking place.
The biggest night in Latin music is back for another year. This time, it’s taking a revolutionary step into the web3 space. Teaming up with OneOf, a web3 music platform, the awards ceremony will release drops that highlight great Latin music.
CEO of the Latin Recording Academy, Manuel Abud has talked about this innovative move to bring fans closer to the Latin GRAMMYS:
“The Latin Recording Academy is committed to exploring innovative, new ways to celebrate excellence in Latin music and to connect music to other art forms in our culture, including visual and digital arts.”Manuel Abud
The award show itself will take place on November 18th, although drops will occur throughout October until the big day.
The contract for NFT collections with the Latin Grammy Awards runs for three years. This is the same as OneOf’s recent contract with the GRAMMYS – one of America’s biggest music award ceremonies. Between March and April this year, the GRAMMYS unveiled a collection of music NFTs from superstars from diverse backgrounds. Each artist had a week each dedicated to their drop, with different tiers of rarity available.
Although these contracts are among the handful award ceremonies adopting NFT perks, they are not the first. The MTV awards integrated web3 features by including a “Best of Metaverse” category in August. Plenty of other NFT-related deals are being struck within music at the moment too. Sony filed a trademark application for NFT-authenticated music and video in August as well.
The adoption of NFTs in the music industry appears to be steadily growing. Muse became the first music group to reach number 1 in the UK album charts with their latest record, which was partially available as a “digital pressing” NFT.
Musicians and fans can also take advantage of NFTs by getting involved with Fractis!
By selling fractional shares of music streaming royalties, artists can enjoy instant revenue. Fans and investors can own a piece of their favourite music, whilst receiving monthly royalties. If you want to learn more, check out our helpful article.
Sign up to Fractis today, and be first in line to join the music royalties revolution!