John Legend’s NFT platform raises $7.5 million to fuel music collectibles
Back in February Grammy Award-winning musician John Legend, alongside other notable names, co-founded Our Happy Company, with its first product being OurSong. The new company has now raised $7.5 million in seed funding to continue developing new features for its NFT music platform.
The seed round was led by Animoca Brands and Infinity Ventures, with participation from FBG Capital, Circle Ventures, Cherubic Ventures, and others.
“Our goal at Animoca Brands is to seek out and support the companies that are building the open metaverse,” said Animoca Brands Co-Founder and Executive Chairman Yat Siu. He added:
One of the fundamental requirements of the open metaverse is that it must provide a more equitable system for creators. That’s why we are proud to support Our Happy Company and its mission to elevate artists, musicians, and all creators to greater levels of individual success.
OurSong is an NFT platform that allows musicians and entertainers to monetize their work. The platform, which is already live as a mobile app for both iOS and Android devices, allows users to create and trade pictures, video, and music NFTs called “Vibes.”
The NFT platform currently supports cryptocurrency tokens such as Ethereum, Binance’s BNB, and Thundercore. Furthermore, in addition to payments in credit and debit cards, OurSong also supports Circle’s stablecoin USDC.
As for his role in the company, John Legend is serving as Our Happy Company’s chief impact officer. His efforts will be geared towards onboarding up-and-coming artists along with their fan bases.
Other notable names on the Our Happy Company team include Facebook alum Ken Cheung and Twitch co-founder Kevin Lin. Meanwhile, Chris Lin of Taiwanese music streaming service KKBOX is acting as the company’s CEO.