Sustainable technology company OneOf raised $ 63 million in seed money to fund its new “green NFT” platform for musicians. This is further evidence that the non-fungible token market is still hot.
Several investors and venture capitalists participated in the financing round, including Bill Tai, Sun Said from Nima Capital, Sangha Capital, Tezos Foundation, Jack Herrick and Jaeson Ma from East West Ventures.
Developed on the protocol Tezos, OneOf is a marketplace for artists and fans to use digital collectibles. The company claims that NFT coinage at Tezos uses more than 2 million times less electricity than large networks like Ethereum. Artists looking to start an NFT on Tezos don’t pay for the minting fee, while customers can pay for their collectibles in over 135 fiat currencies.
OneOf also plans to donate a portion of its sales to an environmental cause or a charity chosen by the artist.
The rapper Doja cat he said he is “I’m happy to be working with OneOf” to address accessibility and environmental issues at the same time.
“The blockchain has the ability to democratize property and bring economic empowerment to both artists and fans.” He said Lin Dai, CEO and Co-Founder of OneOf. “We’re building a technology company with an artist-first ethic and an environmentally conscious mission to help hundreds of thousands of non-native cryptocurrency users learn about blockchain through case studies. Easy and exciting to use like NFTs.”
The enthusiasm for NFTs seems to have cooled off in the last few weeks the fall of the cryptocurrency markets. Before the crash, NFTs and DeFi tokens were among the most popular trends in the crypto market.
Despite the recent setback, the future looks bright for NFTs. A new industry forecast from Invezz puts the market cap of NFTs at $ 470 million in October as trading volume increases by almost 40%.