Miami and Los Angeles-based NFT platform OneOf has just made two major announcements. First: the startup, which has up to now focused on the music industry, will be expanding into two new verticals: sports and lifestyle. Second: OneOf is a preferred NFT partner of Warner Music Group (WMG).
On the WMG news, co-founder and CEO Lin Dai noted that the high profile partnership signals that the music industry takes NFTs seriously. “NFTs are a brand new technology that can fundamentally revolutionize the music industry,” he told Refresh Miami. “This partnership is an endorsement that NFTs are here to stay and are not just a 2021 fad.”
This announcement compounds OneOf’s exclusive deal with the GRAMMYS Recording Academy to create NFT collectibles and experiences related to the awards ceremonies. Already, OneOf has been working with some of the biggest names in the music industry, including Doja Cat, Pia Mia, and Pitbull.
The news about OneOf’s expansion into the sports and lifestyle articles bolsters the A-list names associated with the startup. Dai highlighted a handful of athletes who will be minting NFTs through the platform such as Jerry Rice, Wayne Gretzky, and Mia Hamm. OneOf announced that their first major sports initiative will be a collaboration with Sports Illustrated to create 3D animated NFTs inspired by these athletes’ Sports Illustrated covers.
“Thinking about the time I was on the cover of Sports Illustrated brings back many great memories for me,” Jerry Rice said in a statement. “This NFT collection will allow me to connect with my fans in a unique way and it’s really exciting to watch how technology and innovation keeps evolving. I’m glad to be a part of the Sports Illustrated and OneOf collaboration.”
For Dai, the expansion into sports and lifestyle fits within OneOf’s broader mission of using people’s passion points to onboard non-crypto native users onto the blockchain in a low-friction way. “Crypto products, websites, and projects are very difficult for non-tech savvy users,” said Dai, who lives in MIami.
“NFTs have the bad rap of being too expensive, or being scary, or something people can lose money on,” he noted. “How to change that? We try to make entities affordable. We try to make signing up and getting your first entity very painless.” On OneOf, consumers simply have to give their email, phone number, and credit card information to purchase an NFT. They can choose to leave it with OneOf as custodian of their asset, or transfer it over to a different wallet.
OneOf aims to make the process equally straightforward for their partners. “We offer white glove service,” said Dai. “The idea is we make it very easy for artists and athletes to onboard.”
The startup, which currently has around 60 employees, was founded in 2021 by Dai alongside co-founders Adam Fell and Josh James. The platform is backed by legendary artist and producer Quincy Jones. Last year, just a few months after being founded, OneOf raised a $64 million seed round.
OneOf’s use of the Tezos blockchain results is significantly more environmentally friendly. According to the startup, minting an NFT uses two million times less energy than networks like Ethereum. Tezos is also a less expensive platform, which further increases accessibility for all parties involved.
Dai underscored his excitement about the South Florida tech scene. “The tailwind is our welcoming policy and low taxes,” he said, speaking to Mayor Suarez’s ‘How can I help’ mentality and Florida’s pro-business environment. “The headwind is the local tech talent,” he said, noting that while currently many tech firms are importing talent to Miami from elsewhere, he sees promise in local universities’ efforts to equip students with the necessary skills for the digital world.
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