🎺 Bridging Music, Art, and Cryptocurrency
Today's Highlights
- OurSong - a new haven for NFTs in music
- Today's Infographic
- In Other News - a few interesting developments we're tracking
OurSong - A New Haven for NFTs in Music
American singer and songwriter John Legend has joined the ranks of celebrities embracing non-fungible tokens (NFTs), as he introduces a new NFT platform named OurSong. The platform's primary objective is to establish a community for digital artists and musicians, offering them a space to gain visibility for their creations and generate income from their efforts.
OurSong is positioned as a social platform, particularly catering to musicians who can produce exclusive digital covers and gain access to distinct audio clips. Described as a "social commerce platform" on its official website, OurSong aims to transform ordinary creative endeavors into tradable assets and cultivate dedicated fan communities. In simple terms, it's an application that enables individuals to monetize their ideas while forging new friendships.
Operating on blockchain technology, the music-oriented NFT platform provides users with the opportunity to explore unreleased music clips, discover emerging artists, and engage with them through private chat rooms. Transactions on the platform are facilitated using cryptocurrency, aligning with the prevalent approach in the NFT ecosystem.
Collectors interested in the platform will need to acquire the native currency of OurSong, known as OurSongDollars (OSD), using credit or debit cards. The acquired amount will be stored within the user's blockchain-based crypto wallet. OurSong also strives to support up-and-coming musicians and artists by allowing them to convert their creative works into digital art or NFT cards termed as "Vibes." The platform outlines that creators can contribute songs, lyrics, images, and other materials to generate these Vibes, which can then be purchased by buyers.
Our Song has raised a total of $7.5M in funding.