American singer and songwriter John Legend becomes the latest celebrity to jump on the non-fungible token (NFT) bandwagon. Not only that, the “All of Me” singer has partnered 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 to create a community of digital art creators and artists who can be easily discovered and monetize their work. Dubbed a social platform, OurSong is a paradise for musicians to create exclusive digital covers and access unique audio clips.
His official site states, “OurSong, is a social commerce platform where anyone can turn everyday creativity into tradable assets and build communities of super fans. In short – an app for your ideas to earn money and friends.
The NFT platform also allows users to discover new artists, interact with them in private chat rooms and explore unreleased music videos.
Legend’s collaboration for OurSong
To launch this NFT platform, the 12-time Grammy-winning artist collaborated with Chris Lin, 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 based on blockchain technology and uses cryptocurrency to transact.
Collectors will have to buy the native currency of the NFT platform Our songDollars (OSD) via credit or debit cards, and the amount will be 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 that “creators can create Vibes by contributing songs, lyrics, images, or other material,” which buyers can get their hands on.
More celebrities join the NFT hype
John Legend joins a long list of musicians and celebrities who have invested in NFTs. This includes the American rapper Eminem, Snoop DoggHong Kong-based singer and songwriter Shawn Yue Man-lok and Justin Beiber.
Indian actors Amitabh Bachchan and Salman Khan are also among those who launched their NFTs. Even fashion houses like Gucci, Balenciaga and Louis Vuitton have joined the NFT craze.
(Main image and feature credit: John Legend/ @johnlegend/ Instagram)