Back in May of last year, we first covered OneOf’s emergence as a growing audio NFT platform after the platform raised $63M in a fundraising effort that specified that a majority of funds raised would be going straight to artist’s pockets.
The platform was (and is still) clearly making strides in onboarding substantial talent – including the likes of John Legend and Whitney Houston – onto the OneOf platform.
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This week, OneOf has a new partnership that will level up their positioning even further: Warner Music Group (WMG). Let’s take a look at today’s announcement and the current state of music and audio NFTs.
OneOf Looks To Be ‘One Of A Kind’
Last month, OneOf was host to an unreleased Whitney Houston recording from when Houston was just 17 years old, which yielded a roughly $1M bid, the highest-priced NFT to be purchased on the Tezos blockchain. The platform is backed by legendary record producer Quincy Jones, and was first launched in just May of last year. OneOf has also found partnerships with the Grammy Awards and iHeartRadio to date.
Additionally, the platform has positioned itself as a ‘green’ Web3 frontrunner in a growing sea of audio and music based platforms in the NFT and blockchain space. The niche has been dominated thus far by the likes of Audius, Royal, and a few other headlining names. Audius made a splash last year by partnering with powerhouse social platform TikTok, while Royal has been making headlines this year by releasing royalty-earning NFTs for hip-hop legend Nas.
According to a report from Variety, WMG EVP Oana Ruxandra stated that the partnership with OneOf “gives our artists an edge in more authentically building one-to-one relationships with their fans and winning in the new Web3 economy.”
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Tezos continues to lock in major brand partners as an NFT resource. | Source: XTZ-USD on TradingView.com
Tezos Continues To See Strong Traction
Tezos continues to gain traction in the altcoin market as being a viable choice for major brands and platforms that are looking for a ‘white label’ like solution to NFTs. Brands and companies like Gap, Ubisoft, and now OneOf – in partnership with Warner Music – have all leveraged Tezos in some capacity around their respective NFT releases.
While not often categorized as a ‘blue chip’ altcoin, Tezos has still been the blockchain of choice for a substantial amount of blue chip brands. A recent example includes apparel brand Gap, who released a white-label, easy to use NFT drop that saw nearly instant sell-outs for their rare collection. Additionally, Tezos was host to gaming development firm Ubisoft’s Quartz NFT project, which has been host to a back-and-forth affair of storyline drama.
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Featured image from Pexels, Charts from TradingView.com The writer of this content is not associated or affiliated with any of the parties mentioned in this article. This is not financial advice.