The Recording Academy and OneOf announce a partnership to enrich the Grammy competition with the NFT. The project is supported by the legendary record producer Quincy Jones.
Details on specific NFT collections to be released on the Grammy will be released in January. It is known that these are to celebrate the awards themselves, as well as the nominees and award winners. Part of the money from the sale of these assets will be used to finance the Academy's scholarship fund.
The OneOf project, built on the Tezos blockchain, was designed specifically with musicians and listeners in mind. Panos Panay, co-chair of the Recording Academy, said:
“As an Academy, we're always looking for ways to help artists discover new forms of creative expression while creating new ways to generate income and ways for fans to interact with the artists they love. OneOf shares this vision and we are proud to be working with NFT. ”
OneOf co-founders Adam Fell, Joshua James and Lin Dai said in turn that "if we use our full potential, the NFT will strengthen the music industry in a way" like never before.
"It is a great honor for us to work with this prestigious organization to help shape this bright future for the industry."
- they added.
OneOf was launched in August. The platform has already offered such tokens as Doja Cat, The Game, iHeartRadio Music Festival and Alesso. Whitney Houston, TLC and G-Eazy have also signed contracts with the company. The startup raised $ 63 million prior to launch.
It is worth adding that more and more bands and artists decide to broadcast NFT. From the Polish groups, Behemoth decided to go for it, which aired NFT related to graphic and sound works, which were inspired by the musicians from the album "The Satanist".
The Megadeth team decided to take a similar step by selling NFTs associated with a 3D visualization inspired by the band's mascot - a ghostly skeleton.
Added to this is the rock band King of Leon, which sold their new album in the form of NFT, which represented the rights to the latest music of the group.
The group of bands and musicians who have their own NFT also include, among others rapper Eminem or Grimes, singer and privately former partner of Elon Musk.
