International Rapper Doja Cat on Music NFT Platform OneOf
The single-edition Crystal Token from the Doja Cat NFT series was sold for $188,000 on OneOf, a Miami-based Non-Fungible Token (NFT) platform. Doja Cat’s NFT price tag at OneOf was more than Jay-NFT Z’s 138.6k sale at Sotheby’s. Lin Dai, Josh James, and Adam Fell established OneOf, a green NFT marketplace dedicated solely to the music industry. Tezos is one of the fastest-growing blockchain networks in the crypto sector. Tezos’ market capitalization has more than doubled in the last year due to the growing number of projects running on the platform.
The transaction was concluded after the company’s first-ever auction was a success. The Crystal Token broke the record for the largest single-item NFT auction on the Tezos blockchain network, signalling a turning point not just for the startup’s platform but also for the Tezos blockchain network. For NFT developers, Ethereum used to be the chosen network. Congestion, on the other hand, resulted in higher transaction costs and longer transaction settlement times as a result of the increased congestion. By utilising Tezos, OneOf is able to provide its consumers with high efficiency and dependability, as well as affordable costs, while also allowing them to access NFTs created by their favourite bands.
Doja Cat, one of the most popular rappers in the music industry is one of these acts, with over 63 million monthly Spotify listeners. She would be the first artist to offer not just an exclusive NFT collection on the OneOf Marketplace, but also two all-inclusive tickets for a fly-away VIP experience, which the auction winner may use to attend any of her gigs. The partnership with Doja Cat is one of the platform’s many recent initiatives aimed at offering its consumers with unique content and experiences. As part of its collaboration with iHeartRadio, the business gave away 1 million free iHeartRadio Music Festival “poker chip” tokens as well as exclusive digital festival posters over the weekend. Billie Eilish, Coldplay, Sam Hunt, YUngblud, LilBaby, and more performed at the festival.
The NFT market earned around $250 million in trade in 2020 after garnering the attention of celebrities such as Paris Hilton, Snoop Dogg, Steve Aoki, and others. The business has now surpassed $2 trillion in transactions in the last month, according to NonFungible. This exponential growth is a once-in-a-lifetime opportunity for businesses striving to revolutionise the NFT industry, which is still in its infancy. With the popularity of networks like Tezos expanding, OneOf and other businesses have a fantastic opportunity to profit from untapped markets while giving unique perks and experiences to their customers.