Quincy Jones Is Backing a New NFT Marketplace for the Average Music Fan
Jones, Whitney Houston, TLC, Doja Cat, John Legend, and more will release collections on the environmentally friendlier OneOf platform, which is scheduled to launch in June.
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NFTs could reshape the fan experience — that is, if NFT marketplaces were user-friendly and the digital collectibles were actually affordable. Industry insiders tell Rolling Stone that a new marketplace called OneOf has been designed specifically for musicians and music lovers, and that it will announce its plans on Tuesday to better serve fans looking for cheaper NFT options, including children and teenagers.
Quincy Jones, Whitney Houston, Doja Cat, John Legend, TLC, Charlie Puth, Jacob Collier, G-Eazy, Alesso, and other stars have already prepared collections that are expected to drop in tandem with OneOf’s launch sometime in June, according to early press materials reviewed by Rolling Stone. Jones is also a partner and an owner in the company.
Adam Fell, Quincy Jones Productions’ president, co-founded OneOf with digital media executive Joshua James and tech entrepreneur Lin Dai, who will also serve as its CEO. The company, which has been in the works for about two years, recently raised $63 million from a seed round; tech investors include 88rising co-founder Jason Ma and Bill Tai, one of the earliest investors in Zoom. (Tai was also an early investor in Dapper Labs, which created CryptoKitties.)
Right now, navigating the most popular NFT platforms — which are often filled with trading-related data and hard-to-parse price tags based on the Ethereum cryptocurrency — is a head-scratcher to say the least. A 12-year-old pop music fan may not know how to download a Metamask wallet to hold their virtual tokens.
They probably do know how to borrow mom or dad’s credit card for basic online shopping, though, which is why OneOf will accept credit cards as well as crypto payments, Dai tells Rolling Stone. (YellowHeart also green-lit the use of credit cards when it launched its marketplace earlier this month.)