In Brief:
- Recording Academy has teamed up with OneOf to release NFTs.
- NFTs will be released to celebrate 64th, 65th, and 66th GRAMMY Awards.
- Quincy Jones has funded for the NFT release.
The Recording Academy has teamed up with OneOf(opens in a new tab), a green NFT marketplace funded by Quincy Jones, a 28-time GRAMMY Award winner, to release NFTs celebrating the 64th, 65th, and 66th GRAMMY Awards.
The NFT collections will be revealed in early January 2022, ahead of the 64th GRAMMY Awards, which will take place on January 31.
The NFTs will be released as souvenirs and experiences honouring the GRAMMY Awards, nominations, and winners, including tokens created by world-renowned crypto artists based on the historic GRAMMY Award. The NFTs will donate a part of their revenues to the Recording Academy’s scholarship fund.
The Recording Academy’s Co-President, Panos A. Panay, stated, “In considering a NFT partner, we were committed to working with a like-minded organization that had an artist-first approach and we have undoubtedly found that in OneOf.”
He further stated that, “As an Academy, we are always looking for ways to help artists discover new forms of creative expression, while also creating new ways of income generation and ways for fans to interact with the artists that they love. OneOf shares that vision, and we are proud to work with a sustainable NFT company.”
Lin Dai, Adam Fell, and Joshua James, three of the company’s co-founders on this said “for 63 years, the GRAMMYs and the Recording Academy have been the premier representation, celebration and advocacy partner for the artists, songwriters and professionals who create the music we love.”
He also said, “If used to their full potential, NFTs will empower the music industry in a way few other technologies ever have. It is our great honor to work with this prestigious organization to help shepherd this bright future to the industry.”
28-times GRAMMY Award winner Quincy Jones commented that “I’ve been advocating for artists my entire career, so any technology that serves to help musicians make a living is something I fully stand behind.”
He then added by saying, “it excites me to know that OneOf is working to bring more money into the ecosystem, and simultaneously, I’ve been with the GRAMMYs/the Recording Academy since its inception. So, it makes my soul smile to see OneOf partnering with this wonderful organization, and I look forward to seeing the good they will do for artists.”
Doja Cat, a previous GRAMMY nominee, dropped a 26,000-token drop in the inaugural artist collection when OneOf’s NFT platform launched in August. On Tezos, the blockchain platform on which OneOf is built, the single biggest auction transaction was for a one-of-a-kind item in her collection, which went for $188,000 at auction.
At the Dreamverse NFT music and art festival in New York City on Thursday, Nov. 4, the 2021 iHeartRadio Music Festival, rapper the Game, and DJ/producer and EDM musician Alesso will all play and debut major pieces from his OneOf NFT collection.
Whitney Houston, TLC, Jacob Collier, Quincy Jones, H.E.R., Charlie Puth, AURORA, G-Eazy, and others are among the artists that have signed on to release NFTs on OneOf.
It’s not just the first time any entertainment platform is investing on crypto, earlier WWE and Fox Entertainment’s Blockchain Creative Labs have established a cooperative venture.
