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 from prime firms resembling Uber, Courageous, Warner Music Group, and lots of others.
OneOf plans to include Faucet Community with its newly launched OnePlatform, a ready-made answer that can permit manufacturers to construct up their Web3 methods by incorporating e-commerce, information, 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 clients to Web3, particularly by means of e-commerce. Not less than that is the sentiment of Lin Dai, cofounder and CEO of OneOf.
Chatting with 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 mentioned, OnePlatform will function a multi-signature pockets that can permit 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 will not respect creator royalty.”
OneOf launched in Could 2021 after receiving $63 million in seed funding. A number of the outstanding 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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Basil is an avid fan of blockchain know-how and all its improvements, and he’s obsessed with sharing this narrative together 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.
