Award-winning American singer and producer, John Legend has raised $7.5 million in seed funding for NFT Music Platform, OurSong.
The funding round Was led by Infinity Ventures and Animoca Brands. Circle Ventures, Cherubic Ventures, FBG Capital, and others also participated.
OurSong is currently live as a mobile app for iOS and Android and enables users to easily create their own static image, video, or music NFTs or buy others’ NFTs, which OurSong calls “Vibes.”
According to OurSong’s website, the platform currently supports tokens on Ethereum, BNB Chain, and Thundercore.
While minting NFTs the “traditional” way via a smart contract may be confusing and cumbersome for the uninitiated, OurSong aims to offer user-friendly minting of Vibes through its mobile app. But it also holds custody so that users don’t have to rely on a cryptocurrency wallet like MetaMask.
OurSong keeps all currencies and Vibes in its app-based wallet, but users can withdraw Vibes to their MetaMask or other crypto wallet if desired.
OurSong uses Circle’s stablecoin USDC as a mobile payment option in addition to accepting fiat credit and debit cards. In order to purchase a Vibe, users must deposit either fiat or USDC into their account on the OurSong app and then convert that into the platform’s currency, OurSong Dollars (OSD).