OneOf, a green non-fungible token (NFT) marketplace, has teamed up with The Recording Academy, known for its Grammy Awards. OneOf, the firm backed by the 28-time Grammy winner and veteran record producer Quincy Jones, struck a three-year deal with the Academy.
The new development was mentioned on Grammy’s website, wherein additional insight into the project was discussed. The goal of the partnership is to commemorate the 64th, 65th, and 66th Grammy Awards in the form of non-fungible tokens or NFTs. A portion of the funds earned through these NFTs will be donated to the Recording Academy’s scholarship fund.
The details on the NFT collection are yet to be released. As the website mentioned more details will be shared before the 64th Grammy Award ceremony scheduled to be held on 31st January 2022. According to the historic announcement, the NFTs will be created by renowned NFT artists from around the world using the iconic Grammy Award itself.
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Quincy Jones believes in the power of NFTs and how they can support artists from all around the globe. Speaking on the partnership for Grammy Awards, Jones said,
“I’ve been advocating for artists my entire career, so any technology that serves to help musicians make a living is something I fully stand behind. It excites me to know that OneOf is working to bring more money into the ecosystem, and simultaneously, I’ve been with the GRAMMYs/the Recording Academy since its inception. So, it makes my soul smile to see OneOf partnering with this wonderful organization, and I look forward to seeing the good they will do for artists.”Quincy Jones on the partnership between OneOf and The Recording Academy
According to the co-president of The Recording Academy, Panos A. Panay, the Academy always focuses on bringing together like-minded firms who support artists from all around the globe, and this is why The Academy struck a deal with OneOf.
The co-founders of the OneOf platform, Lin Dai, Adam Fell, and Joshua James, claimed in their statement that the NFT industry has a huge potential and if used at full capacity, will empower the entire music and digital artist industry in ways that haven’t been imagined.