The Weeknd (Abel Tesfaye) will perform the opening show of his "After Hours Til Dawn" international concert tour at the Rogers Centre in Toronto on July 8, multiple news outlets reported Friday.
Binance has teamed up with HXOUSE, a Toronto-based "think-center and community incubator" for creative enterprises, to offer an exclusive NFT line as well as co-branded tour gear for The Weeknd's tour.
The stadium tour will be "the first global concert tour to combine Web 3.0 technologies for an enhanced fan experience," based on a release from the musician, with cryptocurrency exchange Binance listed as the tour's official sponsor.
Attendees' virtual ticket stubs can also unlock "commemorative" NFTs, says Binance, which will provide fans with new experiences.
The Weeknd's engagement with Binance comes after Binance Labs, the company's venture capital and incubator arm, announced this week that it had launched a new $500 million investment fund with institutional investors such as DST Global Partners and Breyer Capital.
The Weeknd founded the XO Humanitarian Fund earlier this year as a United Nations World Food Programme (WFP) Global Goodwill Ambassador, according to the press release announcing the tour sponsorship.
According to Binance, the new fund will invest in projects that expand the use cases of cryptocurrencies and drive the adoption of Web3 and blockchain technology.
Binance has announced a $2 million donation to the XO Humanitarian Fund, which is administered by WFP USA, to commemorate the start of the tour.
The Weeknd and Binance are collaborating on a specially created NFT line, with 5% of proceeds going to the XO Humanitarian Fund.
"Binance is all about community, people, and inclusivity. I was impressed by their user-centric approach and inventive edge," The Weeknd said.
"I can't wait for people to have a taste of cryptocurrency through a creative medium while also supporting a wonderful cause as a result of our collaboration. There are many possibilities with cryptocurrencies, and I believe we're only getting started," He added.
Binance Co-Founder Yi He said that they are pleased to be an exclusive crypto partner of The Weekdnd's tour as it enables fans to interact with crypto in a new avenue.
Crypto is community-centric, and they believe this cooperation exemplifies that, including promoting local artists and giving back to the community through a mainstream platform.
The Weeknd's collaboration with Binance comes after Universal Music Group announced a broad, long-term agreement with the musician in April.
