John Legend, an American singer-songwriter, has joined the ranks of celebrities flocking to the realm of nonfungible tokens (NFTs). By assisting in the development of a new NFT platform for artists and other entertainers.
OurSong is a platform that allows artists to tokenize and sell their work. Giving buyers access to exclusive content and private chat rooms.
The platform claims that “everyone may now turn stories, music, photography, and any other kind of art into NFT trading cards called Vibes.” “Vibes provide you access to secret chat rooms where you can meet like-minded people and receive special information.”
Legend will serve as Chief Impact Officer, in charge of attracting new artists and their fan networks.
Legend told Bloomberg that, while he spends most of his mental energy thinking about music, he believes that the platform would help people connect.
“When I consider what I want to do, I strive to get engaged in projects that I believe will help to link the world.”
Chris Lin, the cofounder of digital music streaming service KKBOX, will serve as the new company’s CEO. Kevin Lin, co-founder of Twitch, and Matt Cheng, founder of early-stage venture financing firm Cherubic Ventures, will also join the team.
The network would not need users to have a cryptocurrency wallet, according to Lin. Only OurSongDollars can be usable to purchase Vibes, as stated in the Terms of Service (OSD). “You can buy OSD in OurSong with a credit card, debit card, wire transfer. Or USD Coin placed in your Circle wallet,” it says.
The singer and his co-founders provided no further financial information regarding the endeavour.
Legend’s entry into the realm of NFTs isn’t his first. Legend, along with Doja Cat and Whitney Houston, named a partner of the “OneOf” NFT platform in May 2021.
He isn’t the first celebrity to dabble with NFTs and cryptocurrencies. However, most celebrities prefer to mint their own collection rather than launch a full-fledged platform.
Super Bowl champion Tom Brady is one prominent exception, having introduced the “Autograph” NFT platform in April 2021.
While many celebrities are eager to participate in the space, such as Paris Hilton, who recently revealed her first NFT line with Superplastic, others are less enthusiastic.