The Weeknd has named Binance, the self-described “global blockchain ecosystem behind the world’s largest cryptocurrency exchange,” as the “official sponsor” of his forthcoming After Hours Til Dawn Tour.
The Weeknd (who reupped with Universal Music Group in late April) and Binance (which has helped other members of the music industry to enter the non-fungible token space) unveiled their sponsorship pact today.
Under the partnership – the (undoubtedly substantial) financial specifics of which haven’t been publicly revealed – the involved parties are set to drop “an exclusive NFT collection for The Weeknd’s tour.”
And as part of this non-fungible token offering, tour attendees’ “virtual ticket stubs can also gain access to commemorative NFTs which will provide unique experiences for fans,” Binance disclosed.
Plus, five percent of the sales attributable to “a specially designed NFT collection” will reach The Weeknd’s XO Humanitarian Fund, which has also received a $2 million donation from Binance, the formal release makes clear.
(Worth noting is that Binance’s YouTube-channel location is set to Malta, while the entity’s announcement message lists the business’s location as Dubai, United Arab Emirates. The Weeknd manager Wassim “Sal” Slaiby became head of Universal Arabic Music in April of 2021 and has presumably forged meaningful ties with regional players.)
Back to the details associated with Binance’s sponsorship of The Weeknd’s world tour, which is expected to initiate on Friday, July 8th, the crypto-focused company emphasized that its Binance.US division will receive top billing on the stateside dates, including “co-branded tour merchandise.”
Binance.com, on the other hand, is poised to be marketed exclusively during The Weeknd’s international stops, seemingly including the aforementioned July 8th show in his native Toronto. “Binance.com services are not available in the United States. U.S persons should sign-up with Binance.US,” the platform clarified.
Addressing the deal with Binance – and the quick-approaching arrival of “the first crypto powered world tour” – The Weeknd touched upon his ambitious long-term vision for cryptocurrency.
“Binance is all about the community, about people, about inclusion. I was impressed by their focus on users and innovative edge,” said The Weeknd, who Live Nation relayed had sold north of one million tickets to his ultimately canceled After Hours World Tour.
“It made perfect sense to work together and I can’t wait for fans to experience crypto within a creative avenue while supporting a good cause. There are so many possibilities with crypto and I think this is just the beginning,” concluded the 32-year-old.
Regarding additional crypto sponsorships – and the massive amount of capital that continues to float around in the space – Crypto.com last year paid a reported $700 million for 20 years’ worth of naming rights for the arena previously known as the Staples Center. And crypto companies invested some $130 million in NBA sponsorships this season, per Sportico, up from about $2 million in the 2020-2021 season.