Top Stars Line Up To Support Environmentally Friendly NFT Platform OneOf
Market OneOf units its sights on disrupting the NFT business with its purpose of reforming the fan expertise. The platform was designed to cater to musicians and their followers, even kids and youngsters, via a user-friendly expertise.
Crypto as a complete, not simply NFTs, carries many unfavorable connotations, together with being overly advanced and environmentally damaging. However OneOf seeks to alter that via its eco-friendly and charitable ethos and by enlisting assist from the glitterati.
OneOf Calls On The Stars
OneOf has the backing of music business mogul Quincy Jones, who has secured the help of a string of widespread artists. The record contains Doja Cat, John Legend, TLC, Charlie Puth, Jacob Collier, G-Eazy, Alesso, and Whitney Houston’s property.
The mission has been two years within the making and just lately raised $63 million in a seed spherical with backing from Invoice Tai. Tai is a Silicone Valley enterprise capitalist concerned with quite a few tech startups, together with Zoom and Dapper Labs, which created CryptoKitties.
OneOf describes itself as “A inexperienced NFT platform constructed for music artists and followers.” Operating on the Tezos community, it takes benefit of low charges and its Proof-of-Stake consensus mechanism to supply a greater all-round expertise for customers and the atmosphere.
“Deeply dedicated to a sustainable blockchain future, OneOf will donate a share of income from each sale to a charity of the artist’s alternative, or an environmental trigger companion.”
Nearly all of the NFT ecosystem runs on Ethereum, which suffers from excessive gasoline charges, making minting and switch costly. Ethereum additionally operates on a Proof-of-Work chain, which means the mining course of is energy-intensive. OneOf claims to be 2 million occasions extra energy-efficient than different Ethereum-based NFT marketplaces.
Instagram Wanting To Get In On Non-Fungibles
The newest market data from OpenSea exhibits curiosity in NFTs is cooling. March 2021 was the platform’s best-ever gross sales month, bringing in $150 million. However the next month noticed a 38% stoop in gross sales.
“On OpenSea, a significant NFT market, month-to-month gross sales had been $93.6 million in April, having hit nearly $150 million in March, in comparison with $95 million in February and $8 million in January.”
An analogous sample was reported by each Nifty Gateway and NBA Prime Shot.
Regardless of that, as evidenced by NFTs holding their very own through the latest crypto crash particularly gaming-related gadgets, some argue that NFTs are a greater funding than cryptocurrency.
Stories from China declare the NFT sector over there’s booming. A lot in order that Alibaba launched a digital artwork public sale final week.
Add to that rumors of Instagram popping out with their very own platform, and it’s clear that NFTs nonetheless maintain enchantment on the board stage.
The social media large is claimed to be early phases of designing its NFT platform. The agency has apparently reached out to artists inviting them to a panel dialogue.