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The Grammys announce NFTs


Teletubby

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Teletubby

The Recording Academy has struck a deal to release NFT collectibles for the next three Grammy Awards with NFT platform OneOf.

Details on the collection, which will include digital collectibles and experiences celebrating Grammy winners and nominees, will be unveiled in January. The Recording Academy says a portion of the proceeds from the NFT sales will go to its scholarship fund.

OneOf is billed as an environmentally friendly NFT platform designed specifically with the music industry in mind. The platform doesn’t charge its artist and creator partners any minting fees to create NFTs — which can be expensive when you’re minting hundreds or thousands of NFTs — and the company says it uses 2 million times less energy than blockchain networks like Ethereum, the network most NFTs utilize.

OneOf also accepts credit and debit cards, which should lower the barrier of entry for the average fan.

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