Cryptocurrency News

OneOf raises $ 63M for new green NFT platform for musicians

Sustainable technology company Oneoff has raised $ 63 million in seed funding to finance its new Green NXT platform for musicians, offering further evidence that the irreplaceable token market remains hot.

Several investors and venture capitalists participated in the seed round, including Bill Tai, Sun Said of Nima Capital, Union Capital, Tejos Foundation, Jack Herrick and Jason Ma of East West Ventures.

Built on Tejos Protocol, OneOf is a marketplace for artists and fans to tap into digital collectibles. The company claims that building the NFT on Tezos uses 2 million times less energy than major networks such as Ethereum. Artists wishing to create NFT on Tezos will pay zero costs for their listings, while users will be able to pay for their collections in more than 135 Fiji currencies.

OneOff also plans to donate a portion of its sales to an environmental cause or a charity of the artist’s selection.

Artist Doja Kat said she is “happy to work with OneOff” at the same time addressing accessibility and environmental issues.

Oneoff CEO and co-founder Lynn Dai said, “Blockchain has the potential to democratize ownership and bring economic empowerment to both artists and fans.” “We are building a technology company with an artist-first ethos and environmentally conscious mission to help introduce millions of non-crypto native users to the blockchain through easy and exciting use cases such as NXT . “

It seems that the excitement around NXT has cooled over the past few weeks because Cryptocurrency market tanked. Prior to the sell-off, NXT and DFI were among the most popular trends in the cryptocurrency market.

Despite the recent ups and downs, the future appears to be bright for NXT. A new industry forecast from Invezz Publishing pegged NFT at a market capitalization of $ 40 million by October As the trading volume increases by about 40%.