A Tezos-powered green NFT music platform has raised $63million to launch its collectibles. The OneOf marketplace opens in June and features non-fungible tokens from stars including Whitney Houston. It was founded in partnership with Quincy Jones’ Quincy Jones Productions.
Artists like John Legend, Doja Cat, TLC, Alesso and G-Eazy will also have tokens minted for the platform. Support from credit and debit card providers across over 135 fiat currencies is confirmed. This is in addition to an undisclosed number of cryptocurrencies and stable coins.
Tezos-Powered Green NFT Music Platform and Proof of Stake
The OneOf marketplace uses Tezos proof-of-stake, which major brands like Red Bull are experimenting with. This offers many benefits, including using less power. According to Tezos, it needs 2million times less energy compared to proof-of-work Bitcoin and Ethereum rely on.
Consensus mechanisms ensure only legitimate Tezos transactions are added to blocks, with validators locking currencies to secure the network. Decrypt suggests this protects against 51% attacks, where one user controls more than half the computing power.
When launched, Ethereum 2.0 will run on proof-of-stake, and its mainnet will eventually merge with this. Bitcoin is also coming under increased scrutiny for energy intensive proof-of-work. Most recently, electric car giant Tesla announced it will no longer accept the currency.
NFTs and music
The music industry continues to push non-fungible tokens and collectibles forward. Earlier this month IMJUSTBAIT announced ticketing NFTs to overcome touts. Meanwhile, producers including Nicky Romero, and Steve Aoki and 3LAU have being involved in minting.
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