Recording Academy Announces NFTs For Upcoming Grammys

The NFTs are to be released as collectibles and experiences celebrating the Grammy Awards, nominees and recipients, including tokens designed by world-famous crypto artists using the iconic Grammy Award itself, according to the announcement. A portion of the proceeds of the NFTs will go to the Recording Academy’s scholarship fund. 

OneOf is a NFT platform designed specifically for the music community to create an environmentally sustainable, artist-and-fan-friendly experience, built on the Tezos blockchain protocol using less energy than other networks, which has become a concern of many blockchains. 

“In considering a NFT partner, we were committed to working with a like-minded organization that had an artist-first approach and we have undoubtedly found that in OneOf,” said Panos A. Panay, Co-President of the Recording Academy. “As an Academy, we are always looking for ways to help artists discover new forms of creative expression, while also creating new ways of income generation and ways for fans to interact with the artists that they love. OneOf shares that vision, and we are proud to work with a sustainable NFT company.” 

“For 63 years, the GRAMMYs and the Recording Academy have been the premiere representation, celebration and advocacy partner for the artists, songwriters and professionals who create the music we love,” said Lin Dai, Adam Fell and Joshua James, Co-Founders of OneOf. “If used to their full potential, NFTs will empower the music industry in a way few other technologies ever have. It is our great honor to work with this prestigious organization to help shepherd this bright future to the industry.”

“I’ve been advocating for artists my entire career, so any technology that serves to help musicians make a living is something I fully stand behind,” said Quincy Jones. “It excites me to know that OneOf is working to bring more money into the ecosystem, and simultaneously, I’ve been with the GRAMMYs/the Recording Academy since its inception. So, it makes my soul smile to see OneOf partnering with this wonderful organization, and I look forward to seeing the good they will do for artists.”

OneOf’s NFT platform launched in August, with a 26,000-token drop from Doja Cat, which a $188,000 auction, making it the single largest auction transaction on Tezos.  Other OneOF drops have included the star-studded 2021 iHeartRadio Music Festival rapper the Game and EDM artist Alesso. Artists including Whitney Houston, TLC, Jacob Collier, Quincy Jones, H.E.R., Charlie Puth, AURORA, G-Eazy, and others have also signed on to release NFTs on OneOf.  

The second wave of the NFT craze appears well under way, following this spring’s headlines including the Kings of Leon “NFT Yourself” album-timed NFT drop. Just days ago, Live Nation just announced its own “Live Stubs” NFT offerings going along with primary tickets, and blockchain early adopter YellowHeart announced its own NFT ticketing and wallet app.