10 August 2023

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Quincy Jones, John Legend, Doja Cat, TLC And The Estate Of Whitney Houston Amongst The 212 Big-Name NFT Drops This Year On Tezos-Based Music Platform OneOf

Quincy Jones, John Legend, Doja Cat, TLC and The Estate Of Whitney Houston amongst the 212 big-name NFT drops this year on Tezos-based music platform OneOf.

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OneOf

The OneOf launch has been one of the most covered Tezos stories in mainstream media. Many of the music, entertainment and tech media have covered it. For example, there have been articles in Rolling StoneVarietyBillboardForbes and Engadget.

The interest is due to heavy-hitters in both the tech world and music industry joining forces to create an NFT platform catered towards non-crypto music lovers.

The fact that it’s run on a decentralized, permissionless blockchain is merely an enabler for the product being built, than a feature in itself.

Tezos’ unique qualities as an energy efficient blockchain is explicitly pointed out in all of these articles though, and a requisite to get many of the artists on-board.

Doja Cat said that she was excited to release her first collection, but was “mindful of environmental concerns and accessibility” to all of her fans. She added that she was happy to be working with OneOf, which was in the process of “addressing both of these issues.”

OneOf has been in the making for a couple of year and after closing a $63 million seed round, it is set to launch in June this year. Quincy Jones, John Legend, Doja Cat, TLC and the estate of Whitney Houston will be amongst 212 big-name NFT drops that are set up to drop on the platform in the coming 12 months.

OneOf is more than just a marketplace. It actively helps artists with their NFT drop. And for new up and coming artists, they designed the Emerging Artist Spotlight Program to help budding superstars reach the limelight. The first names to join this program include Laura Mvula, Barbara Doza and Erick The Architect.

OneOf will also include a secondary market. Here collectors can trade their music as NFTs. Not all NFT’s will be one-offs and the prices of the content on the platform will depend on scarcity and popularity.

The Emerging Artists Spotlight Program being one of the areas where collectors can try to spot early gems.

Tezos

The choice for Tezos wasn’t purely based on environmental concerns. Although low energy consumption was an important factor, there is another obvious quality that makes Tezos a rising star. Scalability and low transaction costs.

It was stated:

“[The Dapper Labs team] came to the conclusion that Ethereum was just not able to scale and support NFTs,” says Dai. “Dapper was processing so many transactions that they actually slowed down Ethereum to a crawl.

[Ethereum] couldn’t process transactions fast enough. But also, because they were processing so many transactions, the cost skyrocketed.

Low transaction costs bring obvious advantages:

“Because we have the ability to not charge the artists minting or gas fees, the artists can sell NFTs at any price. It doesn’t matter if the artist sells one NFT for a million dollars or a million NFTs for a dollar — and the latter is oftentimes much better for some artists, especially artists that are just starting.”

Disclaimer

Nature of Content: All content published on https://xtz.news, whether written, auditory, or visual, is for informational purposes only. Opinions expressed therein are solely those of the individual authors and do not reflect the views of XTZNews or its management.

Not Financial Advice: No content on this website constitutes investment, financial, legal, or tax advice. Users should not construe any such information as a recommendation to buy, sell, or hold any investment or security or to pursue any particular investment strategy.

Accuracy and Completeness: While XTZNews makes every effort to ensure the accuracy and reliability of information, we do not warrant or guarantee the timeliness, completeness, or accuracy of the information presented. The website may contain errors, omissions, or inaccuracies. We disclaim all warranties, both express and implied, regarding the information, including but not limited to, any warranty of merchantability or fitness for a particular purpose.

Endorsements: References to specific entities, products, services, processes, or other information does not constitute or imply endorsement, sponsorship, or recommendation by XTZNews. Blockchain technology is in a developmental phase, and the engagement with the technology and its associated entities carries inherent risks.

User’s Responsibility: Users are encouraged to conduct their own research and due diligence and to seek the advice of qualified professionals before making any investment or decisions related to content on this site. Engaging with blockchain technology, cryptocurrencies, and associated applications should be undertaken with caution, understanding the inherent risks involved.

Limitation of Liability: Under no circumstances will XTZNews or its affiliates, partners, officers, directors, employees, shareholders, agents, or licensors be liable for any direct, indirect, incidental, special, consequential, or punitive damages, including without limitation, loss of profits, data, use, goodwill, or other intangible losses, resulting from (i) your access to or use of or inability to access or use the site; (ii) any content obtained from the site; or (iii) unauthorized access, use, or alteration of your transmissions or content, whether based on warranty, contract, tort (including negligence), or any other legal theory, whether or not we have been informed of the possibility of such damage, and even if a remedy set forth herein is found to have failed its essential purpose.

Seek Independent Advice: Before undertaking any financial investments, potential investors are advised to seek guidance from independent financial, legal, and tax professionals.

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