Home News The Recording Academy and OneOf announce Grammy Awards partnership

The Recording Academy and OneOf announce Grammy Awards partnership

375
0

The music platform of non-fungible tokens (NFTs) OneOf has announced a partnership with the Recording Academy. As part of the agreement, the project will release NFT for the 64th, 65th and 66th annual Grammy Music Awards.

OneOf positions itself as an “eco-friendly NFT platform” based on the Tezos blockchain, developed for the music community.

Thus, the tokens will be digital collectibles dedicated to Grammy winners and nominees. Moreover, the partners promised to disclose the details on specific NFT collections in January 2022.

Creating new ways of income generation

Part of the profit from the sales will go toward the scholarship fund of the Recording Academy.

“We are always looking for ways to help artists discover new forms of creative expression, while also creating new ways of income generation and ways for fans to interact with the artists that they love”. Said co-president of the Recording Academy Panos Panay.

In addition, OneOf co-founders Adam Fell, Joshua James, and Lin Dai, expressed their own delight at the announcement, saying; “It is our great honor to work with this prestigious organization to help shepherd this bright future to the industry.”

Token drops

Earlier in May, OneOf raised $63 million in a seed round of funding. Eco-activist Bill Tai, Jack Herrick, Suna Said from Nima Capital, Sangha Capital and Tezos Foundation attended the round.

Recall that in June, McLaren Racing announced a technical partnership with the Tezos blockchain project to create a platform of NFTs. Previous token drops on the platform have included Doja Cat, The Game, iHeartRadio Music Festival, and Alesso. Whitney Houston, TLC, and G-Eazy have also signed deals with the company for future releases.

OneOf supports sustainable development goals. Lin Dai claims that the platform consumes two million times less energy when creating an NFT than competitors based on Ethereum.

Previous articleAvalanche creates $200-million fund to lure top crypto developers
Next articleUS Treasury says stablecoins should be ‘urgently’ regulated