OneOf Raises $63 Million for a ‘Green’ NFT Website for Musicians

To promote the recently launched ‘Green’ NFT website for musicians by OneOf, Whitney Houston, Doja Cat, John Legend, TLC, H.E.R, Quincy Jones, Charlie Puth, Jacob Collier, G-Easy, AURORA, The Kid LAROI, Alesso, and other artists highlight the ongoing market for NFTs.

The Launch Of OneOf

OneOf, a sustainable technology firm raised $63 million in seed funding to support the recent Green NFT website for musicians, demonstrating that the need for nonfungible tokens remains active.

Bill Tai, Sun Said of Nima Capital, Sangha Capital, Tezos Foundation, Jack Herrick, and Jaeson Ma of East-West Ventures were among the investors and venture capitalists who participated in the seed round.

OneOf, based on the Tezos protocol, is a marketplace for artists and enthusiasts to access digital collectibles. According to the firm, minting NFTs on Tezos consumes over 2 million times less energy than leading networks such as Ethereum. 

Artists who want to create an NFT on Tezos will pay nothing for their listing, and consumers will be able to pay for their collections in over 135 fiat currencies.

The “Green” NFT Website For Musicians & OneOf

OneOf intends to donate a part of its profits to an environmental cause or a charity of the artist’s choice.

Doja Cat, an artist, said she is “excited to be partnering with OneOf” to discuss connectivity and environmental challenges at the same time.

“Blockchain has the potential to democratize ownership and provide economic leverage to both artists and fans,” OneOf CEO and co-founder Lin Dai said. “We are creating a technology business with an artist-first ethos and an eco-conscious quest to bring hundreds of millions of non-crypto native consumers to the blockchain through simple and thrilling use cases like NFTs.”

The Climate Controversy Revolving Around NFTs

The euphoria around NFTs seems to have subsided in recent weeks when cryptocurrency prices tanked. NFTs and DeFi were among the hottest phenomena in the cryptocurrency industry before the selloff.

Despite the recent downturn, the outlook for NFTs continues to be positive. According to a recent industry estimate, NFTs will have a market capitalization of $470 million by October, as trading volume increases by nearly 40%.