NFT Platform OneOf Signs 3-Year Deal With Grammys

OneOf will release NFTs on the Tezos blockchain for the 64th, 65th and 66th annual Grammy Awards.

Nov 1, 2021 at 3:40 p.m. UTC
Updated Nov 1, 2021 at 3:50 p.m. UTC

The Grammy Awards has signed a three-year partnership deal with OneOf, a non-fungible token (NFT) platform based on the Tezos blockchain.

  • The platform will release NFTs for the 64th, 65th and 66th annual Grammy Awards.
  • OneOf is built on the Tezos blockchain and connects music fans and collectors with their favorite artists.
  • The prestigious awards are presented by the Recording Academy and recognize talent in the music industry.
  • The NFTs will include digital collectibles celebrating Grammy Award winners and nominees, with details revealed in January.
  • “As an academy, we are always looking for ways to help artists discover new forms of creative expression, while also creating new ways of income generation and ways for fans to interact with the artists that they love,” said Panos Panay, co-president of the Recording Academy.
  • Proceeds from the NFT sales will go to the academy’s scholarship fund.
  • In June, McLaren Racing said it plans to build a NFT platform on the Tezos blockchain. The blockchain is seen as a green option because it uses a Proof-of-Stake system rather than the more energy demanding Proof-of-Work required of Ethereum.

DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Tanzeel Akhtar is a CoinDesk news reporter based in the UK.