John Legend unveils NFT platform

Grammy Award-winning recording artist John Legend is solidifying his position in the NFT space with the launch of OurSong.

John Legend unveils NFT platform

While most celebrities stop at owning pieces of popular NFT collections like Bored Apes and CryptoPunks, Grammy Award-winning recording artist John Legend is solidifying his position in the space with the launch of an NFT platform.

The OurSong platform allows musicians and other entertainment professionals to tokenize their work.

Also included are extra perks such as unreleased music and private chat rooms.

"Anyone can now create NFT trading cards named Vibes from stories, music, photography, and any kind of art," says the platform. "Vibes give you access to exclusive updates, private community chats, and can connect you with folks who share your interests."

In his role as Chief Impact Officer, Legend will be in charge of bringing in up-and-coming artists and their fan bases. Bloomberg reports that the singer hopes the platform will foster a sense of community.

"In terms of what I would like to do, I think about projects that could help me become more connected to the world," Legend says.

Legend is not the only well-known name involved in the project. The company's CEO will be Chris Lin, one of the co-founders of KKBOX, a digital music streaming company. Kevin Lin, the co-founder of Twitch, and Matt Cheng, the founder of Cherubic Ventures, will also be joining.

According to Lin, access to the new NFT marketplace does not require a crypto wallet. OurSongDollars (OSD) is the only currency accepted for Vibes purchases on the platform.

OSD can be deposited into OurSong using a credit card, debit card, wire transfer, or USD Coin stored on Circle's blockchain in your wallet.

In contrast to building their own platforms, most celebrities create and sell their own NFTs.

Tom Brady, a retired NFL quarterback who co-founded Autograph, an NFT platform that specializes in sports collectibles like virtual Wayne Gretzky statues and Tony Hawk skateboard tricks, is one of the most notable celebrities in the NFT industry.

Andreessen Horowitz and Kleiner Perkins led a $170 million funding round for Autograph in January.