OneOf has partnered with Warner Music Group to create custom NFTs for various artists in the company’s music catalog, Variety reports.
Web3 company OneOf’s NFT platform creates NFTs that are significantly more efficient than their competitors and designed specifically with the music community in mind, offering NFTs ranging from collectibles and productive PFPs to music royalties and experiences, according to the announcement.
Warner Music Strikes Deal With OneOf for Artist and Music NFTs (EXCLUSIVE) https://t.co/ClD8XIDKsC
— Variety (@Variety) January 31, 2022
In December, a previously unreleased recording made by Whitney Houston when she was 17 was sold in a 24-hour auction on the OneOf NFT platform. The winning bid was the highest-priced NFT auction on the Tezos (XTZ) blockchain: $1 million.
Oana Ruxandra of WMG said:
“Web3 is a huge leap forward in technology: it will expand the scale and scope of both human and machine interactions far beyond what we can imagine today. Partnering with OneOf, a leader in the emerging technology space of Web3 and NFTs, gives our artists an edge to engage with their fans one-on-one in a more authentic way and win in the new Web3 economy.”
OneOf CEO Lin Dai used the following statements about the partnership:
“From collections to music royalties, NFTs and Web3 represent the pulse of consumer demand and an exciting future for the music industry. We are excited to partner with Warner Music Group and to be innovative.”
First announced in May 2021 and backed by Quincy Jones, OneOf recently announced a three-year collaboration with the Grammy Awards, as well as partnerships with iHeartRadio and MusiCares. Since going live in September, the company has launched NFT collections with artists including Houston, Doja Cat, Alesso, The Game, Chief Keef, and more.
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