OneOf has formed a preferred partnership with Warner Music Group that will see the company create exclusive NFTs for a range of artists across WMG’s catalog of music.
A Green Web3 company, OneOf’s NFT platform creates NFTs that are significantly times more energy efficient than its competitors and are specifically designed with the music community in mind, offering NFTs from collectible and generative PFPs, to music royalties and experiences, according to the announcement.
In December, a previously unreleased recording made when Whitney Houston was 17 years old was sold in a 24-hour auction on the OneOf NFT platform. The winning bid was for $1 million, the highest priced NFT auction item on the Tezos (XTZ) blockchain.
“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 WMG EVP Oana Ruxandra. “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.”
“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.”
OneOf, which was first announced in May 2021 and is backed by Quincy Jones, also has 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 others.