John Roger Stephens, professionally known as John Legend, has announced plans to enter the non-homogeneous token (NFT) industry, this time creating an NFT platform for artists.
In a recent meeting with Bloomberg, the 12-time Grammy winner revealed that they are in the final stages of creating the platform, which will work with Chris Lin, founder of KKBOX, as well as Kevin Lin, co-founder of Twitch, and Matt Cheng of Cherubic Ventures.
According to Legend, the platform will be called "Our Song" and is designed to help musicians and artists navigate the choppy waters of the NFT space and help them monetize their work through NFT.
"It's really intimidating for an emerging creative who wants to share their art, their work, their creativity with the world, but they don't feel like they can do something that's worth that much money," Legend said in an interview.
"Some of them are building a place where they even make a living from the art of their students," he added.
Advertising &nbsp &nbsp
The songwriter further revealed that as part of the deal, he will serve as the chief impact officer for the business, creating awareness and traffic for the platform. Chris Lin, on the other hand, will assume the role of CEO, while Kevin Lin and Matt Cheng will continue as investors. However, Lenovo declined to disclose financial details about the business.
According to Chris Lin, the platform will offer artists a range of incentives, such as gifts, enhanced privacy and respect for copyright issues, and the freedom to operate without a digital currency package.
Legends are now joining a growing number of global celebrities who are immersing themselves in the burgeoning NFT industry. However, while most choose to collect NFT for personal reasons, a small group of artists are taking the unlikely path of building their own businesses out of NFT.
Earlier this week, after raising $170 million in seed funding from venture capital firms Kleiner Perkins, Katie Haun and Andreessen Horowitz, legendary 22-year American football quarterback Tom Brady began focusing on his NFT platform " Autograph". .
Melania Trump also recently launched an NFT platform that uses Solana to put her "Melania's Vision" NFT up for auction. Others such as Shawn Mendes and Paris Hilton have also launched their NFT collections, earning millions if not thousands of dollars.
"I think bringing NFT into the mainstream will encourage artists, especially digital artists, to create more work, distribute their work, and hopefully make some money as well," Paris Hilton said recently.