NFT Platform OneOf Launches With $63 Million In Funding

OneOf Founders, From Left: Lin Dai, Adam Fell, Joshua James

OneOf Inc., a green non-fungible token platform focused on musicians and backed by legendary producer Quincy Jones, launched on May 25 with $63 million in seed funding.

The company plans to release NFTs partnering with several major artists, including Whitney Houston, Doja Cat, H.E.R., John Legend, TLC, Jacob Collier and G-Eazy. 

OneOf will have headquarters in Los Angeles and Miami.

The company’s platform is designed to be environmentally sustainable by using Tezos blockchain, which uses 2 million times less energy than other blockchain protocols, OneOf said in its announcement. 

The company was co-founded by startup veteran Lin Dai, former ZIG media chief executive Joshua James and Quincy Jones Productions president Adam Fell.

OneOf’s investors include Mountain View-based Treasure Data Chairman Bill Tai, New York-based Nima Capital founder Suna Said, the Switzerland-based Tezos Foundation, and Jaeson Ma, founder of Los Angeles-based East West Ventures and co-founder of New York-based 88rising.

“Blockchain has the ability to democratize ownership and bring economic empowerment to both artists and fans,” OneOf Chief Executive Dai said in a statement. “We are building a technology company with an artist-first ethos and eco-conscious mission to help introduce hundreds of millions of non-crypto native users to blockchain through easy and exciting use cases such as NFTs.”

OneOf minting, buying and trading NFTs comes without blockchain transaction fees. The company said it will also offer NFTs at “affordable price points,” some as low as $5. OneOf users can purchase NFTs using 135 different currencies, as well as cryptocurrencies.

The company also launched its Emerging Artist Spotlight Program, which it said will highlight and support smaller artists through “financial and marketing commitments.” 

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