Fall Out Boy is an American rock band formed in Wilmette, Illinois, a suburb of Chicago, in 2001. The band consists of lead vocalist and rhythm guitarist Patrick Stump, bassist Pete Wentz, lead guitarist Joe Trohman, and drummer Andy Hurley. The band originated from Chicago's hardcore punk scene, with which all members were involved at one point. The group was formed by Wentz and Trohman as a pop punk side project of the members' respective hardcore bands, and Stump joined shortly thereafter.

Fall Out Boy have been instrumental in the careers of other artists, such as Panic! at the Disco, whom Pete Wentz signed to his record label, Decaydance Records, in late 2004. Several artists, such as You Me at Six and Taylor Swift, have created or performed covers of Fall Out Boy songs as a homage to the band.  The Fall Out Boy band members were the first inductees to the "Hall of Wood" at the 2015 MtvU Woodie Awards and performed a medley of five songs at the ceremony. This honor is given to artists who have used MTV Woodie Awards as a "launching pad" in achieving chart topping success within their musical careers, thus influencing up and coming bands. The award also recognizes bands "sticking to their roots" and "maintaining their loyal fan base". The group had won the Woodie Award for Streaming for "Grand Theft Autumn" at the first ceremony in 2004.  In a list of the 50 greatest pop-punk albums of all time, Rolling Stone placed Fall Out Boy's 2003 album Take This To Your Grave as the fifth greatest, citing it as "[ushering] in a whole new, genre-blurring scene, in which heavy riffs and a screamo aesthetic mingled with old-fashioned teen heartbreak". In a similar list, Kerrang! magazine placed Take This To Your Grave at number 11 out of 51, describing it as a "blueprint for both break-up records and timeless pop-punk".  In 2017, Fall Out Boy were announced as the first winners of Rock Sound's Hall of Fame Award as part of the Rock Sound Awards. In an interview accompanying the band's win, Patrick Stump stated one reason for the band's success is Sugar, We're Goin Down, explaining that the "song changed my life, I have a music career in a large part due to that song". In 2009, Phoenix New Times writer Martin Cizmar had described Sugar, We're Goin Down as possibly "the most listened-to emo track of all time".

Answer the following question by taking a quote from the article: What other aspects of their legacy are significant?
The Fall Out Boy band members were the first inductees to the "Hall of Wood"