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Music oriented NFT firm, OneOf, has acquired Web3 rewards platform, Faucet Community, in a bid to assist enterprise purchasers construct out their Web3 methods. Faucet Community has been round for the previous 5 years, serving to customers redeem loyalty factors and crypto tokens for real-life services and products from prime firms corresponding to Uber, Courageous, Warner Music Group, and plenty of others.
OneOf plans to include Faucet Community with its newly launched OnePlatform, a ready-made answer that can enable manufacturers to construct up their Web3 methods by incorporating e-commerce, knowledge, and loyalty packages.
OneOf Targets a New Onboarding Technique for Web3
The acquisition and integration of Faucet Community on OneOf is essential because the NFT platform seeks to onboard extra manufacturers and prospects to Web3, particularly via e-commerce. At the very least that is the sentiment of Lin Dai, cofounder and CEO of OneOf.
Talking to the press, he highlighted the necessity for constructing the following technology of loyalty program options that embrace Web3 and its perks. As issues stand, “the use case of accumulating a branded [profile picture] could be very removed from the typical shopper’s life.”
That stated, OnePlatform will characteristic a multi-signature pockets that can enable each Web3 natives and new entrants to entry and personal their digital identities. On this, Dai notes, “For enterprise firms, we predict it’s a really legitimate step in direction of decentralization for the corporate to personal their full stack as an alternative of counting on different centralized marketplaces that won’t respect creator royalty.”
OneOf launched in Could 2021 after receiving $63 million in seed funding. A few of the distinguished backers included Quincy Jones, a legendary music producer. From the beginning, the platform has been a key participant inside the music business, utilizing non-fungible tokens to empower artists.
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*All funding/monetary opinions expressed by NFT Plazas are from the non-public analysis and expertise of our web site moderators and are meant as academic materials solely. People are required to completely analysis any product prior to creating any sort of funding.
Basil is an avid fan of blockchain expertise and all its improvements, and he’s keen about sharing this narrative along with his viewers. He has spent over 5 years within the crypto area, specializing in analysis and creating Web3 content material for varied media retailers across the globe.
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