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 high corporations 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 may permit manufacturers to construct up their Web3 methods by incorporating e-commerce, information, and loyalty applications.
OneOf Targets a New Onboarding Technique for Web3
The acquisition and integration of Faucet Community on OneOf is vital 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.
Chatting with the press, he highlighted the necessity for constructing the subsequent era 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 characteristic a multi-signature pockets that may permit each Web3 natives and new entrants to entry and personal their digital identities. On this, Dai notes, “For enterprise corporations, we predict it’s a really legitimate step in the 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 Might 2021 after receiving $63 million in seed funding. Among the distinguished backers included Quincy Jones, a legendary music producer. From the beginning, the platform has been a key participant inside the music trade, utilizing non-fungible tokens to empower artists.
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Basil is an avid fan of blockchain expertise and all its improvements, and he’s captivated with sharing this narrative along with his viewers. He has spent over 5 years within the crypto house, specializing in analysis and creating Web3 content material for varied media retailers across the globe.
