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The Grammy Awards has signed a three-year partnership deal with OneOf, a non-fungible token (NFT) platform based on the Tezos blockchain.
The platform will release NFTs for the 64th, 65th and 66th annual Grammy Awards.
OneOf is built on the Tezos blockchain and connects music fans and collectors with their favorite artists.
The prestigious awards are presented by the Recording Academy and recognize talent in the music industry.
The NFTs will include digital collectibles celebrating Grammy Award winners and nominees, with details revealed in January.
“As an academy, we are always looking for ways to help artists discover new forms of creative expression, while also creating new ways of income generation and ways for fans to interact with the artists that they love,” said Panos Panay, co-president of the Recording Academy.
Proceeds from the NFT sales will go to the academy’s scholarship fund.
In June, McLaren Racing said it plans to build a NFT platform on the Tezos blockchain. The blockchain is seen as a green option because it uses a Proof-of-Stake system rather than the more energy demanding Proof-of-Work required of Ethereum.