Warner Music Group has partnered with OneOf, the Quincy Jones-supported NFT platform, to create exclusive NFTS for WMG’s expansive catalog of artists. The partnership is the first of its kind and will offer NFTs from collectible and generative PFPs to music royalties, and IRL experiences.
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Dedicated to connecting music artists and their fans, OneOf strives to be a sustainable and user-friendly NFT platform. OneOf, described as a “Green Web3 Company built for music,” is built on the open-source network Tezos blockchain, allowing for an energy-efficient means of creating cryptocurrency, as opposed to Bitcoin or Ethereum.
OneOf claims it mints NFTs that are up to “2m times more energy efficient” than its competitors, using the same amount of energy as sending a Tweet.
“Web3 is a massive leap forward in technology: it will expand the scale and scope of both human and machine interactions far beyond what we can imagine today,” said Oana Ruxandra, Chief Digital Officer & EVP, Business Development, Warner Music Group.
“Partnering with OneOf, a leader in the emerging technology space of Web3 and NFTs, gives our artists an edge in more authentically building one-to-one relationships with their fans and winning in the new Web3 economy. We’re excited to see what’s possible.”
Since its debut in September 2021, OneOf announced several collaborations and partnerships with other industry leaders, such as the GRAMMY Awards, iHeartRadio, and MusiCares. The company launched several “record-breaking NFT” agreements with major and independent artists, such as Doja Cat, Alesso, Mia Pia, and most notably, Whitney Houston.
At an auction hosted by OneOf, an NFT of Houston’s unreleased demo she made at 17 years old sold for $1 million. As part of a larger set including photos and videos, the unreleased demo helped generate over $1.1 million total.
“From collectibles to music royalties, NFTs and Web3 represent the pulse of consumer demand and an exciting future for the music industry,” says Lin Dai, OneOf CEO.
“We are thrilled to partner and innovate together with Warner Music Group and use our cutting edge Web3 technology to bring their iconic labels and world-renowned artists to the next 100 million fans on blockchain.”
To learn more about NFTs and other cryptocurrency forms, click here.
