Sustainable technology company OneOf has raised $63 million in seed funding to finance its new inexperienced N.F.T. platform for musicians, giving additional proof that the marketplace for nonfungible tokens remains hot.

Marketplace For Artists And Fans To Faucet Into Digital Collectibles

Several investors and venture capitalists participated in the seed spherical, together with Bill Tai, Sun aforementioned of National Imagery and Mapping Agency Capital, Sangha Capital, Tezos Foundation, Jack Herrick, and Jaeson Ma East-West Ventures.

Built on the Tezos protocol, OneOf could be a marketplace for artists and fans to faucet into digital collectibles. The corporate claims that are minting N.F.T.s on Tezos use over two million times less energy than leading networks like Ethereum. Artists who wish to mint an N.F.T. on Tezos can pay zero value for their listing, whereas users will be ready to procure their collections in over a hundred thirty-five order currencies. OneOf also plans to present some of its sales to an environmental cause or charity of the artist's selection.

Most Popular Trends Within The Cryptocurrency Market

Artist Doja Cat was aforementioned that she's happy to be operating with OneOf" in addressing accessibility and environmental problems at an equivalent time. Blockchain has the flexibility to democratize possession and produce economic management for each artist and fans. They are building a technology company with an artist-first attribute and eco-conscious mission. It assists many numerous non-crypto native users to the blockchain through simple and exciting use cases like N.F.T.s. Euphoria close N.F.T.s seems to possess cooled over the past few weeks because the cryptocurrency markets tanked. Before the sale, N.F.T.s and Defi were among the most popular trends within the cryptocurrency market.

Despite the recent pullback, the longer term for N.F.T.s seems to be bright. A replacement business forecast from the Invezz publication pegged N.F.T.s at a capitalization of $470 million by Oct as commerce volume surges nearly four-hundredth. The soon-to-be-launched platform can feature N.F.T.s from artists like Whitney Houston, Doja Cat, John Legend, T.L.C., H.E.R., American Revolutionary leader Jones, Charlie Puth, Jacob miner, G-Easy, AURORA, the child LAROI, Alesso, and additional.

Vandana Mrigwani

CBW - External Analyst

INDIA