OneOf’s emergence as a rising audio NFT platform was highlighted in May of last year when the platform raised $63 million in a fundraising attempt that indicated that the majority of monies raised will go right to artists’ purses.
The platform was, and continues to be, successful in attracting high-profile talent, such as John Legend and Whitney Houston.
This week, OneOf announced a new relationship with Warner Music Group. It will help them elevate their position even more (WMG).
Novelty of OneOf
Last month, OneOf hosted an unseen Whitney Houston recording from when she was just 17 years old. It sold for over $1 million, making it the highest NFT ever sold on the Tezos network.
Quincy Jones, the famed record producer, is behind the platform, which was first unveiled in May of last year. To date, OneOf has formed relationships with the Grammy Awards and iHeartRadio.
Furthermore, the platform has established itself as a “green” Web3 pioneer. This is among a sea of audio and music-based platforms in the NFT and blockchain area. Audius, Royal, and a few more big names have dominated the market so far.
Last year, Audius created waves by partnering with TikTok, a powerful social network. Also, this year, Royal has made waves by producing royalty-earning NFTs for hip-hop legend Nas.
WMG EVP Oana Ruxandra told Variety that the cooperation with OneOf gives their artists an advantage. This is to legitimately create one-to-one connections with their followers and prosper in the new Web3 economy.
Tezos Continues to Gain Traction
Tezos is gaining traction in the altcoin industry as a viable alternative to NFTs for major businesses and platforms looking for a ‘white label’ solution. Gap, Ubisoft, and now OneOf with Warner Music – have all used Tezos in some manner to promote their individual NFT releases.
Tezos has been the blockchain of choice for a significant number of blue chip firms. While it does not classify as a “blue chip” altcoin.
Gap, for example, recently introduced a white-label, easy-to-use NFT drop that experienced near-instant sell-outs for their limited-edition collection. Tezos also hosted Ubisoft’s Quartz NFT project, which has been the subject of a back-and-forth plot drama.
Consumers have voiced their concerns with non-fungible tokens (NFTs). This was after prominent studios indicated their interest in integrating them with their products.
As Bitcoinist reported in October, videogame behemoth Ubisoft was preparing to enter the blockchain and digital asset space; the company has seen some pushback since then.
Nicolas Pouard, Vice-President of Ubisoft’s Strategic Innovations Lab and the director of the gaming giant NFTs initiative, addressed fans’ unfavorable criticism on digital assets in a recent interview with Finder. Didier Genevois, Ubisoft’s Blockchain Technical Director, followed Pouard, the frontman of Ubisoft’s Quartz and Digits.
Players remain suspicious, with at least some of them believing that NFTs will just be employed by huge studios to boost their earnings. Some of them currently regard digital assets as a new type of microtransaction.