Music Oriented NFT Company, One ofhas acquired the Web3 rewards platform, Touch Network, in an attempt to help enterprise clients develop their Web3 strategies. Tap Network has been around for the past five years, helping users redeem loyalty points and crypto tokens for real-life products and services from major companies like Uber, Brave, Warner Music Group, and many others.
OneOf plans to incorporate the Tap Network with its recently launched OnePlatform, an out-of-the-box solution that will enable brands to build their Web3 strategies by incorporating e-commerce, data and loyalty programs.
OneOf targets a new onboarding strategy for Web3
The acquisition and integration of the Tap Network into OneOf is key as the NFT platform looks to bring more brands and customers to Web3, especially through e-commerce. At least this is the sentiment of Lin Dai, co-founder and CEO of OneOf.
Speaking to the press, he highlighted the need to create the next generation of loyalty program solutions that embrace Web3 and its benefits. How are things, “the use case of collecting a brand [profile picture] It’s a long way from the life of the average consumer.”
With that being said, OnePlatform will feature a multi-signature wallet that will allow both Web3 natives and new entrants to access and own their digital identities. On this, Dai points out, “For enterprise companies, we think it’s a very valid step towards decentralization for the company to own their full stack instead of relying on other centralized marketplaces that may not honor creators’ royalties.”
OneOf launched in May 2021 after receiving $63 million in seed funding. Some of the prominent sponsors included Quincy Jones, a legendary music producer. From the beginning, the platform has been a key player within the music industry, using non-fungible tokens to empower artists.
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*All investment/financial opinions expressed by NFT Plazas come from the personal research and experience of our site moderators and are intended for educational purposes only. People are required to fully research any product before making any type of investment.
Basil is an avid fan of blockchain technology and all its innovations, and he is passionate about sharing this narrative with his audience. He has spent over five years in the crypto space, specializing in research and creating Web3 content for various media outlets around the world.
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