Our Happy Company, the brainchild of John Legend and Chris Lin (KKbox CEO), raised $7.5 million in its latest seed financing round. The new influx of cash will help the Asia-based company to add new features to its debut product, the NFT music platform OurSong, which went live in February.
The money raised in this seed round was 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). 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.
Our Happy Company not only boasts a high-powered list of investors but co-founders as well. Eight, to be exact, including Facebook alum Ken Cheung and Twitch co-founder Kevin Lin, Pochang Wu (Indivox), Matt Cheng (Cherubic Ventures), Terence Leong (KKcompay), Jamer R. Lee (Lee & Partners).
OurSong, described by Our Happy Company is ‘designed to give creators, including musicians and artists, a more equitable way to generate digital creations, monetize their work, and build communities around them’.
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. OurSong makes NFT ownership as simple as a few clicks on a phone”.
OurSong aims to offer user-friendly minting of ‘Vibes’ through its mobile app. ‘Vibes’ is the term used for any image, video, or music NFTs created on the app. Their approach is an alternative to traditional minting of NFTs that may be too complicated for novice users. Users keep ownership within the app so they don’t have to rely on a cryptocurrency wallet. OurSong keeps all currencies and Vibes in its app-based wallet, but users can withdraw ‘Vibes’ to their MetaMask or other crypto wallets if desired.
In addition to accepting fiat cash and debit cards, OurSong accepts USDC as a mobile payment option. Users must deposit either fiat or USDC into their account on the OurSong app before converting it to the platform’s currency, OurSong Dollars (OSD).
Animoca Brands Co-Founder and Executive Chairman Yat Siu sees Our Happy Company as an important part of the Web3 creator economy.
Yat Siu explains “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.”