OneOf—a new non-fungible token platform for musicians—announced today that it’s partnering with Quincy Jones Productions to launch an environmentally conscientious crypto-product that is also priced to sell to everyday folk rather than mogul-type collectors, and a slew of artists are already onboard.
Doja Cat, John Legend, H.E.R., Jacob Collier, and the Kid Laroi are among the first supporters, while Charlie Puth, G-Easy, TLC, Alesso, Aurora, and the estate of Whitney Houston all have releases forthcoming with the new platform, Variety reports.
Co-founded by Lin Dai, Joshua James, and president Adam Fell, an early investor in Uber and Spotify, the group claims that OneOf is different than most NFTs and cryptocurrencies that have come before because it doesn’t take an earth-killing amount of energy to process.
In a statement Tuesday, the company—which has $63 million in launch funding— promised that its Tezos blockchain protocol mints NFTs using “2 million times less energy than other networks like Ethereum” and “requires the same energy as sending out a tweet.”
Aside from being environmentally sound, the founders are also banking on a more immediate benefit, in that OneOf’s NFTs are expected to be dirt cheap with a cost as low as $5 to nothing at all.
“Blockchain has the ability to democratize ownership and bring economic empowerment to both artists and fans,” investor Said Dai said in the statement. “We are building a technology company with an artist-first ethos and eco-conscious mission to help introduce hundreds of millions of non-crypto native users to blockchain through easy and exciting use cases such as NFTs.”
Doja Cat announced her enthusiasm in a release of her own, saying, “I cannot wait to release my first Juicy Drops collection. However, I want to be mindful of environmental concerns and accessibility to all of my fans before we go live. Happy to now be working with OneOf, who is addressing both of these issues.”
OneOf says it will be donating a portion of its NFT sales to the environmental charities chosen by the artists.