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Non-fungible tokens (NFTs) have become highly popular with artists and musicians because they provide a platform where uniqueness can be maintained. John Legend has announced plans to launch an NFT platform solely dedicated to musicians and entertainers.
The singer, songwriter, and producer will work with various partners for this initiative, including Twitch and Cherubic Ventures executives.
John Legend ventures into NFTs
The Grammy Award-winner recently held an interview at 12-time, stating that the NFT platform to be launched will be dubbed “OurSong.” The NFT would allow artists to generate passive income by listing digital collectibles. Legend will serve as the Chief Impact Officer.
“It can be really intimidating for an emerging creative who wants to share their art, their work with the world, share their creativity with the world, but they feel like they can’t possibly do something that’s going to be worth that much money… Some of them are building that up to a place where they’re even making a living off of their art as students,” he said.
Legend further hinted at working on other crypto-related projects for the music sector in the future. Chris Lin of the KKBOX digital music service will serve as the Chief Executive Officer. Lin noted that the NFT platform will be easy to use. It will not require a digital wallet and will have an option to gift other users.
Legend has been involved in the NFT space for a while now. In May 2021, Legend joined the OneOf NFT platform, attracting popular artists such as Doja Cat, Jacob Collier, and Kid Laroi.
Celebrities and NFTs
John Legend is not the only celebrity branching towards NFTs. In April last year, Tom Brady, a seven-time Super Bowl champion, released an NFT platform dubbed “Autograph.” The platform has attracted some of the leading names in various industries, including Tiger Woods, Naomi Osaka and Tony Hawk.
Formula One’s McLaren Racing also unveiled an NFT platform built on the Tezos blockchain. The initiative will allow users “to own a piece” of the Formula One team.
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