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OneOf Raises $63M Seed Round

2021-05-25
LOS ANGELES, CA, Music-focused non-fungible token (NFT) platform OneOf has raised $63 million.
Music-focused non-fungible token (NFT) platform OneOf has raised $63 million to support what it calls its mission to become a more environmentally sustainable marketplace for artists and fans.

Participating investors in the impressive seed funding round included environmental activist Bill Tai, Nima Capital's Suna Said, Sangha Capital, tech investor Jack Herrick and the Tezos Foundation.

The OneOf platform was built on one of the longest-running blockchain Proof of Stake protocols - and it uses 2 million times less energy than platforms operating on Ethereum, offering crucial solutions for long-term sustainability (minting an NFT is equivalent to sending a tweet). OneOf is committed to a $0 minting fee on the platform, an industry-first that empowers artists to sell low-cost or free NFT's. Consumers can also use a credit card to purchase from the site. Whitney Houston, Doja Cat, Quincy Jones and John Legend are just a few of the artists confirmed to release NFTs on this standard-setting, eco- and fan-friendly marketplace.
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