Sports and music non-fungible token (NFT) platform OneOf has launched the first NFTs of its digital collection to celebrate the Grammy Awards. The initial ongoing drop consists of free NFTs featuring a colorful animation of an award. There’s also the possibility of one lucky winner receiving an all-inclusive trip for two to the 64th Annual Grammy Awards on April 3.
Following the initial drop, OneOf is partnering with three digital artists, ThankYouX, Emonee LaRussa, and Andrea Oshea, for more NFTs throughout March.
The visual artists all have experience in the music and entertainment industry. LaRussa is an Emmy winning director and has worked with Kanye West, Lil Nas X, and Megan Thee Stallion, Oshea has worked with music streaming platform Tidal and John Legend, and ThankYouX has exhibited her work in museums around the world.
OneOf’s strategy to begin the collection with a free NFT might attract a wider audience to the project from consumers who might have been put off by paying for a digital asset. The free “souvenir” might spark some interest in future drops and increase some consumers’ willingness to pay. It is also a great way to get fans who have never had experience with crypto or NFTs to engage with the project because there is no risk or financial constraints involved.
Part of the digital collectibles sale proceeds will go towards the Recording Academy’s scholarship fund, which looks to cover the tuition of underprivileged high schoolers. OneOf also has a feature that enables artists using the platform to donate part of their procedures to a charity of their choice.
In addition to associating with charitable causes, OneOf identified itself as a “green” NFT platform. It is built on the Tezos blockchain, which is more energy efficient than certain proof of work based competitors and offers lower gas fees per transaction.
The partnership with the Grammys was announced in November and is expected to last at least three years. OneOf also has an ongoing partnership with Warner Music to launch digital collectibles of artists in their roster and conducted a project with iHeartRadio to give away one million free NFTs to promote the music brand’s Las Vegas Music Festival.
At an artist level, OneOf has partnered with Doja Cat, Rolling Stones guitarist Keith Richards, and managed to acquire and sell as an NFT a never-heard track sung by Whitney Houston when she was 17.
Recently, OneOf expanded out of music into the sports industry through a partnership with Sports Illustrated to launch NFTs of the magazine’s iconic covers.
Meanwhile, Sony and Universal Music partnered with Snowcrash for an NFT platform, and Universal is also working on a project with Billboard. Warner Music partnered with blockchain games Splinterlands and metaverse Sandbox for digital music events.
