In February, we told you about an NFT platform called OurSong with ambitious plans to “reshape the industry” for artists and songwriters.
Today (April 29), Our Happy Company has revealed that it’s raised $7.5 million in a seed round led by Infinity Ventures Crypto and Animoca Brands, the parent of gaming platform The Sandbox (which recently partnered with Warner Music Group to create a music-themed world in the metaverse).
Our Happy Company says that the new funding will be used to grow and develop its OurSong NFT platform.
In addition to John Legend, Our Happy Company was founded by veterans of the streaming and entertainment industries, including Chris Lin, founder and CEO of Taiwan-headquartered music streaming service KKBOX, and co-founder of Twitch, Kevin Lin.
The company says that its flagship product, OurSong, was “designed to give creators, including musicians and artists, a more equitable way to generate digital creations, monetize their work, and build communities around them”.
In addition to Infinity Ventures Crypto and Animoca Brands, the seed round also included participation from Cherubic Ventures, Circle Ventures, FBG Capital, Highstreet, HTC, Jump Trading, and North Island Ventures.
Infinity Ventures Crypto closed an inaugural fund of $70 million in February, with an aim “to jumpstart and accelerate the growth of global GameFi, DeFi and Web 3 innovations”.
Our Happy Company says that the new financing positions it “for further global expansion and enhancements to OurSong”, including the rollout of new features for creators.
The company claims that many NFT platforms “require complicated and costly processes for NFT creation and ownership”, whereas its platform OurSong makes NFT ownership “as simple as a few clicks on a phone”.
“We’re focused on democratizing NFTs for the masses. This round of financing validates our approach and the success we’ve had in such a short time.”
Chris Lin, Our Happy Company
Chris Lin, co-founder and CEO of Our Happy Company, said: “We’re focused on democratizing NFTs for the masses. This round of financing validates our approach and the success we’ve had in such a short time.
“Since OurSong launched earlier this year, we’ve seen a community quickly grow on the platform as creators harness this technology to engage with their fans in new and unique ways. Together with our partners and investors, we’ll be able to supercharge this growth.”
“Over the past two decades, Chris pioneered new ways to transform the entertainment business, from music streaming services to event ticketing platforms and micro-music labels.”
Akio Tanaka, Infinity Ventures Crypto
Akio Tanaka, Partner at Infinity Ventures Crypto, said: “Over the past two decades, Chris pioneered new ways to transform the entertainment business, from music streaming services to event ticketing platforms and micro-music labels.
“He and his team have forever transformed the landscape of the entertainment business in North Asia. He has a proven track record, and we believe he is in the perfect position to democratize the creation of NFTs.”
“Our goal at Animoca Brands is to seek out and support the companies that are building the open metaverse.”
Yat Siu, Animoca Brands
Yat Siu, co-founder and executive chairman of Animoca Brands, added: “Our goal at Animoca Brands is to seek out and support the companies that are building the open metaverse.
“One of the fundamental requirements of the open metaverse is that it must provide a more equitable system for creators. That’s why we are proud to support Our Happy Company and its mission to elevate artists, musicians, and all creators to greater levels of individual success.”Music Business Worldwide