Shadine Taufik · · 1 min readAnimoca co-leads $7.5m round of John Legend’s NFT music firm
Our Happy Company, a social commerce firm co-founded by singer John Legend, has recently raised US$7.5 million in a seed funding round led by Animoca Brands and Infinity Ventures Crypto, Forkast reported.
The company plans to use the funds to expand its NFT music platform OurSong. The app enables its users to create music NFTs or purchase them with USD Coin as well as fiat currencies.
OurSong aims to simplify the NFT minting process through its intuitive mobile interface. Currently, creators can attach content and privileges to NFTs, including chatrooms, augmented reality experiences, and access to music.
Demand for music and musician-generated NFTs has been on the rise, with a total revenue of US$25 million being generated in February alone, according to Music Business Worldwide. The global NFT market is poised to hit US$147.2 billion in value by 2026.
See also: Music NFTs could be the next breakthrough application in crypto
Editing by Deepti Sri and Lorenzo Kyle Subido
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