The Avalanche Foundation and the Op3n platform are partnering to connect artists and their communities through non-fungible tokens (NFTs). The initiative is called “Culture Catalyst” and will allow fans to purchase NFTs unlocking exclusive content related to their favorite artists. The artist Grimes will open the ball, it was learned at the Avalanche Summit held on Friday, March 25.
Avalanche and Op3n join forces for Web 3.0
Avalanche Foundation and Op3n, a platform for artists to interact with their community, unveiled “Culture Catalyst,” a $100 million initiative to propel artists into Web 3.0 and the world of non-fungible tokens (NFTs).
The artists and creators who participate in this initiative will appear on the Op3n application alongside those already present such as Al Rocco, Lil Cherry or Dumbfoundead. With a homepage similar to the TikTok app, users can scroll through the artists and then access their dedicated pages, from where they can then purchase several types of NFTs unlocking content such as exclusive audio files.
For John Wu, president of Ava Labs, Avalanche plans to make its mark in the transition to Web 3.0:
“The collaboration between Avalaunch Foundation and Op3n to create Culture Catalyst marks a watershed moment for pop culture entertainment applications on Avalanche. Users can expect the already substantial ecosystem of NFTs on Avalanche to expand into new areas and become part of a new chapter in the history of Web 3.0 culture.”
Still young, the Op3n platform recently raised $10 million for its development thanks to major investors such as Warner Music Group and personalities invested in projects such as Twitch, Axie Infinity and The Sandbox.
Grimes artist opens the ball rolling
The first artist to receive support from the Catalyst Project will be musician Grimes, who was able to announce her “Children’s Metaverse Book” project at the Avalanche Summit on Friday, March 25, where she said of it:
“When I first discovered Web 3.0, this is the kind of project I was hoping to see. Op3n represents the future of art funding, and Avalanche offers the solutions we’ve all needed and expected from the cryptocurrency community.”
Incidentally, this is not the first step into the world of cryptocurrencies and NFTs for Grimes, who had previously participated in the “TikTok Top Moments” collection alongside Lil Nas X, Bella Poarch or even Brittany Broski. After Grimes, the next artist to collaborate with Catalyst Project will be Ava Max for the production of a new music video.
Jaeson Ma, the founder of Op3n, is known as one of the co-founders of 88rising, a music company that also labels internationally recognized artists such as Joji, Rich Brian or Keith Ape. According to him, his experience will be a real contribution in this new adventure:
“I’ve been in the music, film, entertainment and media business for 20 years. Now it’s about leveraging those relationships and introducing Hollywood and the music industry to NFTs.”
In any case, this is the third major announcement this month for Avalanche, which also unveiled its “Core” wallet as well as “Multiverse,” a $290 million program to expand its ecosystem.
