John Legend continues to go beyond the ordinary when it comes to his ventures in music.
The R&B crooner is now working to bridge the gap between technology and music by way of the latest cryptocurrency wave, non-fungible tokens (NFTs)! Per Blockchain News, Legend will team up with various heavy hitters within the digital media space to launch an NFT allowing artists to have a stake in their work through trading.
Legend will serve as the CEO of the new platform called OurSong and will use his influence to reel in more artists, musicians, and fans.
Learn more about NFTs at Afrotech Executive and click here.
Partnering With The Best
According to the outlet:
“John Legend will team up with Chris Lin, who runs Taipei-based digital music service KKBOX, Live video broadcasting platform Twitch co-founder Kevin Lin, and venture capital firm Cherubic Ventures, Matt Cheng, to launch a non-fungible token (NFT) that will allow artists to stake their work in Tokenize for trading.”
Through the platform, artists can place stake in their work through the trading tool Tokenize.
“When I think about what I want to do, I try to get involved with projects that I think will make the world more connected,” Legend previously told Bloomberg.
Easy & Efficient To Use
OurSong is different from the average cryptocurrency-led platform due to its efficiency and ease. Per Lin, the service will not require the normal cryptocurrency wallet that other platforms use.
The basis of the platform is to appeal to users who don’t hold a degree in computer science or are even fully immersed in the world of tech.
Overall, the goal with OurSong is to “build a better system for creators to be discovered, monetize their work, and engage with fans through NFTs,” per a statement from the company.
And according to the terms, users will need to buy OurSongDollars (OSD) to buy “Vibes.” During the transactions, the options for making a purchase vary and include the use of USD Coin (USDC) via the Circle’s blockchain, credit card, debit card, wire transfer — or they can opt to use USD Coin to purchase OSD and deposit it directly into OurSong.