The Grammy Awards are going digital in a big way this year, and it's not all just about its many social media and online campaigns (see our special Grammy round-up this Thursday on Billboard.biz).

For starters, this year's Grammy Week events will feature a Social Media Rock Stars Summit. It will consist of Digg founder Kevin Rose, Mashable founder and CEO Pete Cashmore, YouTube senior project manager for music and live events Nikhil Chandhok, and Tumblr founder David Karp. Moderators include CNN news anchor Rick Sanchez and Symantec's Internet safety advocate Marian Merritt.

The point of the panel is to discuss how the music and social media industries can best interact, including music promotion, distribution, fan communication and brand-building.

And during the Grammy Awards telecast, the organization has invited several digital industry bigwigs to join artists on the red carpet, including Digg’s Rose, Tumblr’s Karp, Mashable's Cashmore, Music president Courtney Holt, Twitter co-founders Evan Williams and Biz Stone, and YouTube co-founder Chad Hurley.

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