Top Stars Line Up To Support Environmentally Friendly NFT Platform OneOf

Marketplace OneOf units its sights on disrupting the NFT business with its objective of reforming the fan expertise. The platform was designed to cater to musicians and their followers, even kids and youngsters, by means of a user-friendly expertise.

Crypto as a complete, not simply NFTs, carries many damaging connotations, together with being overly advanced and environmentally damaging. But OneOf seeks to vary that by means of 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 well-liked artists. The checklist consists of 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 not too long ago raised $63 million in a seed spherical with backing from Bill 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 green NFT platform built for music artists and fans.” Running 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 surroundings.

“Deeply committed to a sustainable blockchain future, OneOf will donate a percentage of revenue from every sale to a charity of the artist’s choice, or an environmental cause partner.”

The majority of the NFT ecosystem runs on Ethereum, which suffers from high gas fees, 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 Looking To Get In On Non-Fungibles

The newest market data from OpenSea reveals curiosity in NFTs is cooling. March 2021 was the platform’s best-ever gross sales month, bringing in $150 million. But the next month noticed a 38% droop in gross sales.

“On OpenSea, a major NFT marketplace, monthly sales were $93.6 million in April, having hit almost $150 million in March, compared to $95 million in February and $8 million in January.”

The same sample was reported by each Nifty Gateway and NBA Top Shot.

Despite that, as evidenced by NFTs holding their very own in the course of the current crypto crash particularly gaming-related objects, some argue that NFTs are a greater funding than cryptocurrency.

Reports from China declare the NFT sector over there may be booming. So 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 attraction on the board stage.

The social media big is alleged to be early phases of designing its NFT platform. The agency has apparently reached out to artists inviting them to a panel dialogue.

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