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The Recording Academy And Music NFT Platform OneOf Announce Exclusive GRAMMY Awards Partnership
Editor's Note: The 2022 GRAMMYs Awards show, officially known as the 64th GRAMMY Awards, has been rescheduled to Sunday, April 3, at the MGM Grand Garden Arena in Las Vegas. The below article was updated on Tuesday, Jan. 18, to reflect the new show date and location.
The Recording Academy and OneOf, the green NFT marketplace built for music and backed by 28-time GRAMMY Award winner Quincy Jones, have teamed up for an exclusive partnership to release NFTs that will commemorate the 64th, 65th and 66th GRAMMY Awards. Details on the NFT collections will be revealed ahead of the 2022 GRAMMYs Awards show, officially known as the 64th GRAMMY Awards, taking place on Sunday, April 3. The NFTs will be released as collectibles and experiences celebrating the GRAMMY Awards, nominees and recipients, including tokens designed by world-famous crypto artists using the iconic GRAMMY Award itself. A portion of the proceeds of the NFTs will go to the Recording Academy's scholarship fund.
OneOf is a NFT platform designed specifically for the music community to create an environmentally sustainable, artist-and-fan-friendly experience. Built on the Tezos blockchain protocol, minting a NFT on OneOf's platform uses 2 million times less energy than other proof-of-work networks, and for its artist and creator partners, minting NFTs costs $0 in blockchain transaction fees. Dedicated to charitable causes, OneOf offers artists using their platform the option to donate portions of their NFT proceeds to charities of their choice. OneOf also enables fans to pay with credit and debit cards as well as cryptocurrencies.
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"In considering a NFT partner, we were committed to working with a like-minded organization that had an artist-first approach and we have undoubtedly found that in OneOf," Panos A. Panay, Co-President of the Recording Academy, said. "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. OneOf shares that vision, and we are proud to work with a sustainable NFT company."
"For 63 years, the GRAMMYs and the Recording Academy have been the premier representation, celebration and advocacy partner for the artists, songwriters and professionals who create the music we love," OneOf Co-Founders Lin Dai, Adam Fell and Joshua James said. "If used to their full potential, NFTs will empower the music industry in a way few other technologies ever have. It is our great honor to work with this prestigious organization to help shepherd this bright future to the industry."
"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," Quincy Jones said. "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."
OneOf's NFT platform launched in August, and the debut artist collection featured a 26,000-token drop from past GRAMMY nominee Doja Cat. An auction for the one-of-a-kind item in her collection sold for $188,000, making it the single largest auction transaction on Tezos, the blockchain protocol on which OneOf is built. Additional OneOf drops include the 2021 iHeartRadio Music Festival, rapper the Game and DJ/producer and EDM superstar Alesso, who will be performing and releasing key pieces of his OneOf NFT collection at the Dreamverse NFT music and art festival in New York City on Thursday, Nov. 4. Artists including Whitney Houston, TLC, Jacob Collier, Quincy Jones, H.E.R., Charlie Puth, AURORA, G-Eazy, and others have also signed on to release NFTs on OneOf.