American singer and songwriter John Legend becomes the latest celebrity to hop on the bandwagon of non-fungible tokens (NFTs). Not just that, the “All of Me” singer has teamed up with Our Happy Company to launch a new NFT platform named OurSong.
What we know about the collaboration and OurSong
The new NFT platform aims at building a community for digital art creators and artists who can be easily discovered and can monetise their work. Termed as a social platform, OurSong is a haven for musicians who can create exclusive digital covers and get access to unique audio clips.
Its official website states, “OurSong, is a social commerce platform where everyone can turn everyday creativity into tradable assets and build super fan communities. In plain English — an app for your ideas to make money and friends.”
The NFT platform also allows users to discover new artists, interact with them in private chat rooms and explore unreleased music clips.
Legend’s collaboration for OurSong
To launch this NFT platform, the 12-time Grammy Award-winning artist has collaborated with Chris Lin, the CEO of Taiwanese music service provider KKBOX, Twitch co-founder Kevin Lin and venture capitalist Matt Cheng.
Transactions on OurSong
The music-based NFT platform is built on blockchain technology and uses cryptocurrency to carry out transactions.
Collectors will have to purchase the NFT platform’s native currency OurSongDollars (OSD) via credit or debit cards, and the amount will get stored in the user’s crypto wallet in the blockchain.
Helping NFT artists and musicians
The platform also aims to help emerging musicians and artists who can convert their works into digital art or NFT cards called “Vibes”. The website states, “Creators can create Vibes by contributing songs, lyrics, images or other materials,” which the buyers can lay their hands on.
Other celebrities joining the NFT hype
John Legend joins a long list of musicians and celebrities who have invested in NFTs. This includes American rapper Eminem, Snoop Dogg, Hong Kong-based singer and songwriter Shawn Yue Man-lok and Justin Beiber.
Indian actors Amitabh Bachchan and Salman Khan are also among those who have launched their NFTs. Even fashion houses like Gucci, Balenciaga and Louis Vuitton have joined the NFT craze.
(Main and feature image credit: John Legend/ @johnlegend/ Instagram)