Binance And The Weeknd Collaborates To Launch First Crypto-powered World Tour

Binance has announced that they are now the official sponsor of The Weeknd's "After Hours Til Dawn" tour that begins on July 8, 2022. This marks the first global concert tour to integrate Web 3.0 technology for an enhanced fan experience.

As part of the initiative, Binance will collaborate with HXOUSE, a think-center and community incubator for creative entrepreneurs, to release an exclusive NFT collection for The Weeknd's tour and co-branded tour merchandise. Attendees' virtual ticket stubs can also gain access to commemorative NFTs, which will provide unique experiences for fans.

The Weeknd's partnership with Binance follows this week's news that Binance Labs, the venture capital and incubation arm of Binance, closed a new $500 million investment fund supported by institutional investors like DST Global Partners and Breyer Capital.

Binance says the new fund will invest in projects that "can extend the use cases of cryptocurrencies and drive the adoption of Web3 and blockchain technologies".

The media statement announcing the tour sponsorship also notes that The Weeknd launched the XO Humanitarian Fund earlier this year as a United Nations World Food Programme (WFP) Global Goodwill Ambassador.

Binance says it will donate $2 million to the XO Humanitarian Fund to mark the tour's launch, which World Food Program USA administers. Additionally, The Weeknd and Binance are creating a specially designed NFT collection, and they say that 5% of its sales will be donated to the XO Humanitarian Fund.

"Binance is all about the community, about people, about inclusion. I was impressed by their focus on users and innovative edge," said The Weeknd. "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."

Binance Co-Founder Yi He added: "We are excited to be an exclusive crypto partner of The Weeknd's tour, giving fans and people the ability to interact with crypto in a new avenue.