Twelve time Grammy-winning artist John Legend becomes the next celebrity to get involved with NFTs , co-founding the music and art NFT platform, OurSong.
Officially marketed as “social commerce platform”, OurSong allows users to create NFTs (called “Vibes”) and monetize superfan communities through access to private chat rooms and unreleased music.
OurSong notably differs from many NFT platforms in that it doesn’t require users to have external cryptocurrency wallets. Rather, digital fan cards purchased on OurSong are stored on the app itself, granting users access to “clubs” based on the privileges of their card. The app enables users to bid on Vibes directly in USD, which OurSong then converts to Ether and exchanges for an ERC20 token, simplifying the experience for users not familiar with crypto.
The app also enables user to create NFTs directly from their phone, solidifying the desire to keep the app’s experience entirely on mobile.
Legend will server as Chief Impact Officer, expected to use his platform to attract new fans and artists. He is joined by Chris Lin, who runs Taipei-based digital music service KKBOX, Twitch co-founder Kevin Lin and Ken Cheung, a former Senior Vice President at Warner Music Asia Pacific division. While Legend has made a few notable investments in the past (most pertinently interactive streaming platform Adventr), this will be his first foray into any Web3-based business.
At the moment the app appears to have an exclusively Chinese user base, though the addition of Legend may help in marketing to Western audiences. The artist and other founding members decline to provide financial details on the project.
Source: https://www.forbes.com/sites/kamranrosen/2022/02/03/singing-icon-john-legend-set-to-launch-own-music-nft-platform/