OurSong, John Legend-Backed NFT Platform, Raises $7.5 Million – Billboard

Our Joyful Firm introduced that it raised $7.5 million in funding in a seed spherical on Thursday (April 28). Our Joyful Firm launched the platform OurSong earlier this 12 months with the intention of “construct[ing] a greater system for creators to be found, monetize their work, and have interaction with followers by means of NFTs.”

John Legend serves as one among Our Joyful Firm’s co-founders in addition to its chief impression officer. In an announcement, Chris Lin, one other co-founder, mentioned that securing tens of millions in funding “validates our strategy and the success we’ve had in such a short while.”

“We’re centered on democratizing NFTs for the lots,” added Lin, CEO of KKBOX. “Since OurSong launched earlier this 12 months, we’ve seen a group shortly develop on the platform as creators harness this know-how to have interaction with their followers in new and distinctive methods. Along with our companions and traders, we’ll be capable of supercharge this progress.”

Our Joyful Firm’s seed spherical was led by Infinity Ventures Crypto and Animoca Manufacturers. “Over the previous twenty years, Chris pioneered new methods to rework the leisure enterprise, from music streaming providers to occasion ticketing platforms and micro-music labels,” Akio Tanaka, Companion at Infinity Ventures Crypto, mentioned in an announcement. “He and his group have ceaselessly remodeled the panorama of the leisure enterprise in North Asia. He has a confirmed monitor report, and we imagine he’s within the good place to democratize the creation of NFTs.”

Our Joyful Firm launched OurSong in February. “NFTs maintain a lot promise in ushering within the subsequent era of singers, songwriters, photographers, artists, and extra,” Legend mentioned on the time. “I helped discovered OurSong as a result of I imagine NFTs can change the best way creators are found, enhance how they serve their greatest followers, and reshape the trade as an entire. That begins with constructing a platform that serves all creators, whether or not they have 100 followers or 100 thousand.”

Customers of OurSong will not be required to have a separate cryptocurrency pockets. As well as, its NFTs could be bought for reasonably priced costs.

The low barrier to entry intrigued corporations like Animoca Manufacturers. “Our aim at Animoca Manufacturers is to hunt out and help the businesses which are constructing the open metaverse,” Yat Siu, the corporate’s co-founder and government chairman, mentioned in an announcement. “One of many basic necessities of the open metaverse is that it should present a extra equitable system for creators. That’s why we’re proud to help Our Joyful Firm and its mission to raise artists, musicians, and all creators to better ranges of particular person success.”

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