Quincy Jones-backed NFT platform OneOf closes $8m funding round

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Web3 company and NFT marketplace OneOf has raised over $8 million in new strategic funding.

The firm says the round will accelerate the development of what it calls its “environmentally sustainable NFT marketplace”.

The OneOf platform was co-founded by tech entrepreneur Lin Dai, digital media executive Joshua James, and music industry veteran Adam Fell, in partnership with Quincy Jones and Quincy Jones Productions.

In May 2021, OneOf raised $63 million in a seed round from prominent tech and music industry veterans.

Investors participating in the new round include Amex Ventures, Mirabaud Lifestyle Impact and Innovation Fund, Snow Hill Ventures, Sangha Capital, Chain Link Crypto Fund and others.

The new investment brings OneOf’s total funding to over $72 million raised to date.

Existing investors include VC Bill Tai’s Actai Unicorn Fund, Galaxy Digital, Nima Capital, Sangha Capital, Recharge Capital, Andromeda Capital, Sanctor Capital, Tezos Foundation and others.

 

Musicians, athletes and brands such as Doja Cat, the Christopher Wallace estate, Wayne Gretzky, Muhammad Ali, Grammys, Warner Music Group, iHeart Media, Duke Basketball, Sports Illustrated, Anheuser-Busch and Gatorade have previously partnered with OneOf.

Also announced today (August 1), OneOf is launching a set of NFTs accessible to American Express Card Members as part of an event hosted by American Express.

“We are excited and humbled by the belief and overwhelming support from our new and existing investors and partners to continue executing towards our mission of bringing the next 100M users into the NFT and blockchain space.”

Lin Dai, OneOf

Lin Dai, CEO of OneOf, said: “We are excited and humbled by the belief and overwhelming support from our new and existing investors and partners to continue executing towards our mission of bringing the next 100M users into the NFT and blockchain space.

“As the Web3 market matures and consolidates, we see great opportunities in creating new commerce models, enabling creators of all shapes and sizes, from the biggest global brands to the newest independent artists, to unlock the real world potentials of this new technology.”

“A growing number of creators and consumer brands are experimenting with NFTs leading to the rise of a new spend category, new business ideas and new loyalty and membership models.”

Margaret Lim, Amex Ventures

Margaret Lim, Managing Director of Amex Ventures, said: “A growing number of creators and consumer brands are experimenting with NFTs leading to the rise of a new spend category, new business ideas and new loyalty and membership models.

“We believe that the investment in OneOf will help American Express stay close to the developments in NFT-powered commerce and lead to the development of new customer engagement models for our Card Members.”Music Business Worldwide

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