John Legend co-founded “Our Happy Company,” which has garnered $7.5 million in startup capital. It plans to use the funds to expand the functionality of its initial product, the NFT music platform OurSong, which launched in February.
The fundraising round was led by Infinity Ventures and Animoca Brands. Others who took part included Circle Ventures, Cherubic Ventures, FBG Capital, and others. NFTs are one-of-a-kind tokens that reside on a blockchain like Ethereum or Solana and represent ownership of a digital asset like music.
OurSong is currently available as a mobile app for iOS and Android, allowing users to quickly produce static picture, video, or music NFTs or purchase others’ NFTs, dubbed “Vibes” by OurSong. The network presently supports Ethereum, BNB Chain, and Thundercore coins, according to OurSong’s website.
While minting NFTs using the “conventional” method via a smart contract can be confusing and time-consuming for the uninitiated, OurSong hopes to make Vibes minting simple and straightforward through its mobile app. However, it also acts as a custodian, removing the need for users to rely on a cryptocurrency wallet like MetaMask. All currencies and Vibes are kept in OurSong’s app-based wallet, but users can withdraw Vibes to their MetaMask or other cryptocurrency wallet if they like.
In addition to accepting fiat credit and debit cards, OurSong accepts Circle’s stablecoin USDC as a mobile payment alternative. Users must put either fiat or USDC into their OurSong app account in order to purchase a Vibe, and then convert that into the platform’s currency, OurSong Dollars (OSD).
Legend is fully committed to the platform, serving as both chief impact officer and co-founder of Our Happy Company. Our Happy Company, on the other hand, has a slew of other co-founders, including Facebook alum Ken Cheung and Twitch co-founder Kevin Lin.
Our Happy Company is led by Chris Lin, the CEO of KKBOX, a Taiwanese music streaming service. In a statement, he stated, “We’re focused on democratising NFTs for the public.”
Read more: Our Happy Company announces its first product, OurSong
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