NFT is still attracting attention for the industry, especially the art industry which is finding new ways to introduce and market their works in a more modern way. Rolling stone is a leading media in the music world, announced that it will present a platform called OneOf which will provide fans with a variety of cheaper NFT options including for children and teenagers.
Quincy Jones, Whitney Houston, Doja Cat, John Legend, TLC, Charlie Puth, Jacob Collier, G-Eazy, Alesso, and other stars have all set up a collection that is expected to launch alongside OneOf’s launch sometime in June, according to initial reports.
Adam Fell, president of Quincy Jones Productions, co-founded OneOf with digital media executive Joshua James and tech entrepreneur Lin Dai, who will also serve as its CEO. The company, which has worked for about two years, recently raised $63 million from an early round; Tech investors include 88rising co-founders Jason Ma and Bill Tai, one of Zoom’s earliest investors. Tai was also an early investor in Dapper Labs, which created CryptoKitties.
The Reason for the OneOf . Platform
Currently navigating NFT is still not friendly for children and teenagers even though these people have a high enough interest in the digital world and the arts. In meeting this circle, the OneOf platform is also present and accepts credit cards for NFT purchases. Accepting this credit card will make it easier for various groups including teenagers who want to buy NFT.
In addition, OneOf also presents NFT which can be purchased at a low price compared to other platforms, NFT also, there is an NFT option that can be purchased at a price of $10 or $25. This price is of course still quite affordable for teenagers.
OneOf will not run on the Ethereum blockchain, so the team says the platform does not require printing fees, which they believe is an “industry-first commitment.
“Instead, OneOf will run on the Tezos network. [Tim Dapper Labs] came to the conclusion that Ethereum cannot scale and support NFT,” said Dai.
OneOf will still offer one-on-one tokens, but also provide tokens according to tier, For example there is a diamond tier, which holds one in five to one in twenty tokens; platinum tier, which holds one in one hundred to one in a thousand tokens; and the gold grade, which holds one in ten thousand to one in one hundred thousand tokens. The latter, of course, is the level with the lowest price.
“Because we have the ability to not charge artists minting fees or gas fees, artists can sell NFT at any price. It doesn’t matter if the artist sells one NFT for a million dollars or a million NFT for a dollar,” Fell said.
OneOf also believes its relationship with Tezos will win over skeptical celebrities with its more eco-friendly functions.
“A year or two ago, we ran the calculations and saw that Ethereum’s power consumption would be astronomical, I prefer to empower artists in fans in a responsible way (using Tezos),” said Dai.
Tezos also uses a unique consensus, namely “liquid proof of stake” and is claimed to be more efficient for the existence of NFT. Dai says his team’s NFT requires the same amount of energy as it takes to send a tweet, which he estimates is about two million times less than networks like Ethereum. OneOf pledges to donate five percent of its platform revenue from every sale to a charity of choice for artists or partners that focuses on environmental issues.
“We know that there are many artists who will not adopt the platform unless they are environmentally conscious. This solution excites the artists,” said Fell.
When asked about the other cast, Fell confirmed that there are other music industry investors behind OneOf but said he couldn’t reveal their names yet. OneOf is also working on a highlight program for emerging artists.
“We helped them with things like financial support in the form of a down payment and marketing support when they decided to release an NFT. It sounds a bit like a label, except that we don’t own it.”
And the OneOf team helped design most of the artist’s NFTs themselves, rather than just serving as a marketplace. OneOf already had 212 big-name NFTs locked in for the first 12 months.
Dai said OneOf believes it can do music NFT and experience NFT better than its competitors, which have mostly focused on digital arts in recent months. While some OneOf drops will include audiovisual components, especially from musicians who are already painters and graphic designers, according to him, musicians and visual artists should do their best in their respective fields.