OneOf Closes Over $8M in Strategic Round to Accelerate the Development of its NFT Marketplace

The new capital brings the company’s total funds raised to over $72 million.
Image source: OneOf

Quick take:

  • The funding will support OneOf’s growth in the music, sports and brands verticals.
  • OneOf is launching American Express’ first set of NFTs.
  • The platform has partnered with iconic musicians, athletes and brands such as Doja Cat, The Notorious B.I.G, Muhammad Ali, Grammys, and others.

Green Web3 company and NFT marketplace, OneOf, today announced that it has closed over $8 million in a strategic round to accelerate the development of its platform. 

The round included participation from Amex Ventures, Mirabaud Lifestyle Impact and Innovation Fund, Snow Hill Ventures, Sangha Capital, Chain Link Crypto Fund and others. 

The new capital brings the company’s total funds raised to over $72 million. Existing investors include famed environmentalist and VC Bill Tai’s Actai Unicorn Fund, Galaxy Digital, Nima Capital, Sangha Capital, Recharge Capital, Andromeda Capital, Sanctor Capital, Tezos Foundation and others.

“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,” said Lin Dai, CEO of OneOf. “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.”

In January, OneOf partnered with Warner Music Group to create artist and music NFTs. Recently, the platform launched “The Sky’s the Limit: The Notorious B.I.G. NFT Collection to honour Biggie Smalls’ legacy, months after the late rapper’s estate filed three Web3 trademarks. The collection sold out in just 10 minutes.

Along with the funding news, OneOf also announced that it is launching a set of NFTs available to American Express Card Members as part of an event hosted by American Express. It is American Express’ first set of NFTs after filing seven NFT and metaverse trademark applications in March.

From Jul 29 until Aug 21, American Express will hold an exclusive pop-up event inspired by colour theory and therapy for its Card Members. The event, named The American Express Summer in Color Oasis, is held in the Mandarin Oriental in Bodrum, Turkey. 

Throughout the three-week activation, American Express Card Members attending the event will receive a free NFT designed by renowned Turkish artist Selay Karasu, whose works have previously been featured at Burning Man, MOMA NYC (Museum of Modern Art), Art Basel and CERN Particle Physics Laboratory.

Co-founded in 2021 by technologist and entrepreneur Lin Dai (CEO), digital media executive Joshua James (COO) and music industry veteran Adam Fell (CSO), OneOf has partnered with iconic musicians, athletes and brands such as Doja Cat, eBay, Muhammad Ali, Grammys, and Sports Illustrated, among others.

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