OneOf Closes Funding Round With $8M USD and American Express Partnership
Marking American Express’ first steps into the NFT space and bringing OneOf’s total funding raised to $72 million USD.
Sustainability focused NFT platform, OneOf, announced on Monday, August 1, the closing of its strategic funding round with over $8 million (USD), bringing the platform’s totaled to-date funding to $72 million USD.
OneOf uses energy-efficient blockchains to prioritize green initiatives, while welcoming non-crypto native fans to join the Web3 setting through various branded collectibles. Bringing millions of users to the NFT space, OneOf has successfully launched virtual collections for enthusiast favorite celebrities and brands such as the The GRAMMYs, Sports Illustrated, The Notorious B.I.G, Doja Cat, Muhammad Ali, and more.
The newly raised capital will be used to develop OneOf’s sustainable NFT marketplace, while continuing its expansion towards music, sports, and other brand verticals. This round’s contributed investors include Amex Ventures, Mirabaud Lifestyle Impact and Innovation Fund, Snow Hill Ventures, Sangha Capital, Chain Link Crypto Fund and more.
“As the Web3 market matures and consolidates, we see great opportunities in creating new commerce models, enabling creators of all shapes and sizes, from the biggest global brands to the newest independent artists, to unlock the real world potentials of this new technology,” said Lin Dai, OneOf’s CEO.
As a result of this funding round, Amex Ventures and OneOf also publicized its new collaboration, beginning with the introduction of a new NFT collection as part of “The American Express Summer in Color Oasis” event, hosted by American Express inside the Mandarin Oriental in Bodrum, Turkey. OneOf will gift Amex event attendees with a free-of-cost digital collectible designed by the Turkish artist, Selay Karasu, which will be available only to American Express card members until August 21.
Karasu’s work has previously been presented at Burning Man, MOMA NYC (Museum of Modern Art), and Miami’s Art Basel.
Marking American Express’s first issued NFT, the company is experimenting with digital assets to join the growing Web3 business opportunities to generate membership loyalty utilities and new benefits for its members.
“We believe that the investment in OneOf will help American Express stay close to the developments in NFT-powered commerce and lead to the development of new customer engagement models for our Card Members,” shared Margaret Lim, Managing Director of Amex Ventures.