OneOf NFT Platform Adds American Express as Backer in $8.4M Round

Amex will give exclusive OneOf tokens to cardholders attending a pop-up event in Turkey.

AccessTimeIconAug 1, 2022 at 2:17 p.m. UTC
Updated May 11, 2023 at 4:17 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Sustainability-focused non-fungible token (NFT) platform OneOf has raised $8.4 million in a strategic funding round that included Amex Ventures, the venture capital arm of American Express. The credit card company will host an exclusive pop-up event that includes OneOf NFTs, according to a press release provided to CoinDesk.

Other investors included Mirabaud Lifestyle Impact and Innovation fund, Snow Hill Partners, Sangha Capital and ChainLink Capital, among others.

Miami-based OneOf built its platform on the energy-efficient Tezos and Polygon blockchains, which offer low transaction fees. Founded in 2021, OneOf has signed partnerships with the estate of late rap legend Biggie Smalls, hockey great Wayne Gretzky and the Grammy Awards, to name a few. The startup has raised more than $72 million in total funding, including a $63 million seed round in May 2021.

American Express will host a color-theory and therapy-focused event, the American Express Summer in Color Oasis at the Mandarin Oriental hotel in Bodrum, Turkey. Card members who attend will receive a free OneOf NFT designed by Turkish artist Selay Karasu. The pop-up started Friday and runs through Aug. 21.

“A growing number of creators and consumer brands are experimenting with NFTs leading to the rise of a new spend category, new business ideas and new loyalty and membership models,” Amex Ventures' managing director, Margaret Lim, said in the press release. “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.”

UPDATE (13:22 UTC): Updates the name of ChainLink Capital in the second paragraph.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Brandy Betz

Brandy covered crypto-related venture capital deals for CoinDesk.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.