The Weeknd’s “After Hours Til Dawn” tour will start on the 8th of July 2022.

Binance claims that it is the first concert to use web 3.0 technology.

Binance is major Cryptocurrency exchange. On Thursday, it announced that it had become the official sponsor for The Weeknd’s “After Hours Til Dawn” tour. According to the press release, the concert will be the first to incorporate web 3.0 technology.

The sponsorship was possible after a partnership with HXOUSE (a think-centre/community incubator for entrepreneurs). The Weeknd will release an exclusive NFT collection and other tour merchandise co-branded by HOUSE.

Binance is about the community, people and inclusion. Their focus on users was impressive, as well as their innovative edge. It was a great idea to collaborate. I’m excited for crypto fans to have access to it creatively while supporting a good cause. The Weeknd stated that crypto has so many options and that this is only the beginning.

Yi He, Binance’s co-founder, said: “We are thrilled to be an exclusive cryptocurrency partner of The Weeknd’s tour, allowing fans to interact with crypto through a new avenue. Crypto is community-centric. We believe that this partnership embodies that. The time will start on 8 July. Binance.US will be the American sponsor.

Web 3.0 Investment

Binance Labs, Binance’s venture capital and incubator arm, recently secured a $500 million investment fund. According to Binance, the fund was funded by global institutional investors such as Breyer Capital, DST Global Partners and Whampoa.

The venture firm stated that the fund would invest in projects that could extend the use of cryptocurrencies and drive the adoption of third-generation websites and blockchain technologies.

Binance Labs has made numerous investments in Web3 and blockchain projects since the beginning of 2022. Persistence developed pSTAKE Finance, which is a liquid staking method. The venture capital firm made this investment to increase liquid staking in the BNB ecosystem.