We all know the music industry has been one of the quickest to jump into the non-fungible token space. Now things look set to get even more appealing for fans because of a new range of OneOf Grammy Award NFTs.
Thanks to a multi-year deal, one of the leading NFT marketplaces for music collectibles — OneOf — will now host a series of tokens based on award winners and nominees. Even better, it will do this through Tezos, the energy-efficient blockchain.
NFT collectibles are confirmed for the 64th, 65th, and 66th Grammy ceremonies. This means starting in January 2022, OneOf will host a new series of tokens matched to the most recent Grammy Awards each year, for the next three years. It’s huge news for both OneOf and The Recording Academy — the organisation behind the Grammy Awards. What’s more, it’s also big news for fans of any artist who receives a nomination between now and 2024.
What Else Do We Know About the OneOf Grammy Award NFTs?
At the moment it’s too early to tell which artists the first collection of tokens will be linked to. Nominees for the 64th Grammy Awards will be announced on 23rd November 2021. The ceremony itself will then be held on 31st January 2022.
Arguably the biggest music awards in the world, considering this news has arrived just ahead of the COP26 climate conference in Glasgow, UK, it’s great to see The Recording Academy being environmentally conscious. Tezos, which powers OneOf, has shaken up blockchain since launching in 2018. Many music stars have launched NFTs through the platform.
Alesso, Charlie Puth, H.E.R., and Jacob Collier are among the names that have dropped collections on Tezos through OneOf. Most notably, in September a surge in the value of Tezos was thought to be at least partly due to activity from music star Doja Cat. Around this time Tezos handled 400,000 daily transactions for the first time ever.
If you want to put the Tezos revolution in perspective, let’s compare it to networks like Ethereum. According to numbers we’ve been given, the energy use is massively reduced on Tezos. And by that we mean roughly 2million times less consumption compared to Ethereum.
What Does The Recording Academy Say?
“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,” said Panos A. Panay, Co-President of the Recording Academy. “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.”
Of course, this isn’t the only music-related NFT news we’re talking about right now. MetaBoom recently caught our eye, AKA ‘boombox of the Metaverse’. Meanwhile, Public Pressure just launched as a new music NFT marketplace on Polygon. Elsewhere, NFT Ticket Explorer also piqued our interest. The platform is a one-stop-shop for NFT event tickets. Users can find the most recent price paid, lifespan, ownership history, and more for any tokenised ticket. Not sure why that’s so big? Take a look at our in-depth article about the system here.