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Why John Legend’s New NFT Platform is in the News?
News
John Legend, who is a famous American singer and songwriter, and a 12-time Grammy Award-winning artist, is the latest celebrity to come on board with non-fungible tokens (NFTs). He has recently collaborated with Our Happy Company to launch OurSong: an NFT platform. The “All of Me” singer has created a stir online with fans discovering his new collaboration.
According to its official website“ OurSong (John Legend’s New NFT Platform) is a social commerce platform where everyone can turn everyday creativity into tradable assets and build superfan communities. In plain English “an app for your ideas to make money and friends.”
OurSong is a new NFT platform whose objective is to build a community for artists and digital art creators. The platform wishes to promote these talents so that fans can easily spot them and the artists in turn could monetize their art. OurSong is a social platform that would be a prospective space for musicians, enabling them to make exclusive digital covers and making unique audio clips to be exclusively accessible for fans.
Users can conveniently use the NFT platform to search for fresh artists. They can access the platform to not only explore unreleased music clips of these creators but also use private chat rooms to have one-on-one interactions with them.
John Legend is collaborating with Chris Lin, CEO of KKBOX, a Taiwanese music service provider, Matt Cheng, a venture capitalist, and Kevin Lin, co-founder of Twitch to launch the NFT platform, OurSong.
Transactions on John Legend’s New NFT Platform
OurSong is a music-based NFT platform and is built on blockchain technology. The transactions are executed by using cryptocurrencies. OurSongDollars (OSD) is the platform’s native cryptocurrency. Collectors can purchase OSDs by using credit and debit cards. After the purchase of these cryptos, the balance will be reflected in the blockchain in the crypto wallet of a user. The OurSong app can be downloaded from the Google Play Store or Apple’s App Store.
Enabling artists to convert their art into NFTs
Another objective of the platform is to help upcoming artists and musicians to convert their art/ works into digital art/ NFT cards known as “Vibes”. “Creators can create Vibes by contributing songs, lyrics, images or other materials,” as per the statement of the website. These could be bought by buyers thereafter.
Source: crypto News
Author Name : Kiran Sagar
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