John Legend, everyone’s favorite Grammy-winning singer, is developing a new platform that offers artists and music lovers the ability to buy and sell digital assets. The blockchain-powered service will allow listeners to listen for free while at the same time making it possible for fans of an artist or band to purchase their own limited edition merchandise from John Legend’s online store.
The “nft for music” is a cryptocurrency that John Legend has created. It was launched as a platform for artists and fans to connect, share, and monetize their creative work.
John Legend, a 12-time Grammy winner, is the latest star to go into the world of NFTs. Legend’s venture, which is marketed as a social commerce platform, differs from the normal NFT collection-based releases from other A-listers in that it sees him co-founding the new NFT Music platform, OurSong.
Users may build NFTs dubbed “Vibes” on the site, which also enables super-fans to pay for access to exclusive chat rooms and unreleased music. All of the platform’s functionalities are readily available at the touch of a finger through its matching mobile app, in an attempt to increase users’ frequent usage of the platform.
Users do not need to possess bitcoin to take use of the platform’s features; they may buy a digital fan card with fiat, which will be kept on the platform and used to allow access to clubs depending on the card’s rights. Bids on ‘Vibes’ may be made in USD, which OurSong translates to Ethereum and then trades for ERC20 tokens. Such convenience features, on the surface, seem to be meant to simplify and lower the barriers to entry for users who are unfamiliar with the relative intricacies of cryptocurrency.
Legend will serve as Chief Impact Officer in addition to being a co-founder, with notable tech figures like KKBOX, Twitch, and Warner Music joining the Ohio-born artist in his first step into Web3-based company.
Currently, the app looks to have an entirely Chinese user base, but Legend’s reputation in the West might help it gain traction in the West.
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