The Recording Academy and OneOf, a inexperienced nonfungible token (NFT) market backed by legendary report producer Quincy Jones, have introduced an unique partnership centered across the subsequent three years of Grammy Awards in an unsigned assertion on the Grammys web site.
Particulars on particular NFT collections will likely be launched in January however will rejoice each the awards themselves and nominees and recipients. A number of the cash from the sale of the belongings will go towards funding the Recording Academy scholarship fund. OneOf, constructed on the Tezos blockchain, is particularly designed with musicians and listeners in thoughts. Panos Panay, co-president of the Recording Academy, mentioned:
“As an Academy, we’re at all times in search of methods to assist artists uncover new types of inventive expression, whereas additionally creating new methods of earnings era and methods for followers to work together with the artists that they love. OneOf shares that imaginative and prescient, and we’re proud to work with a sustainable NFT firm.”
OneOf co-founders Adam Fell, Joshua James and Lin Dai echoed their very own pleasure on the announcement, saying:
“If used to their full potential, NFTs will empower the music business in a means few different applied sciences ever have. It’s our nice honor to work with this prestigious group to assist shepherd this vibrant future to the business.”
OneOf launched in August. The platform has hosted earlier token drops from Doja Cat, The Sport, iHeartRadio Music Pageant and Alesso. Whitney Houston, TLC and G-Eazy have inked offers for future drops with the corporate as effectively. The startup raised $63 million previous to launching.