# OurSong Financial Model Mobile-first NFT creation and trading platform targeting non-crypto-native users globally, co-founded by John Legend. - Canonical: https://finamodel.com/startups/oursong - Excel download: https://finamodel.com/startup-models/oursong.xlsx - Category: Crypto/Web3 - Model type: Marketplace / GMV - Funding round: Seed - Funding: $7.5M - Founded: 2022 - Geography: Asia-Pacific focus (Taiwan, Japan, Indonesia) + global English; Singapore-incorporated (Our Happy Company Pte. Ltd.). - Customer: B2C ## About the company OurSong is a mobile-first NFT creation and trading platform, co-founded by John Legend and designed for people who are not already crypto-native. Creators publish digital collectibles and community access, while buyers participate through a consumer-oriented experience rather than a specialist trading interface. The company is incorporated in Singapore and focuses on Asia-Pacific markets including Taiwan, Japan, and Indonesia alongside English-language users globally. Its marketplace uses OSD, making creator supply, collector demand, and mobile in-app purchase economics central to the commercial model. Forecast active creators, primary drops, collectors, purchase frequency, primary and secondary GMV, and platform take rate. Split in-app purchases from direct payments to account for Apple and Google fees, and keep creator or brand partnerships separate. Creator acquisition, conversion, GMV per buyer, fee yield, and retention should determine scenarios. ## What's included - 5-year monthly revenue build with stage-appropriate growth assumptions - Full P&L, headcount plan, and operating-expense schedule - Cash-flow statement, runway, and burn-rate tracking - Valuation via exit multiple with a DCF cross-check - Returns analysis with MOIC and IRR - Unit economics including CAC, LTV, payback, and cohort retention ## Product & value proposition - NFT creation ("Vibes") from audio, video, image, or 3D objects in seconds via mobile app. - Non-crypto-native access: users transact via Apple IAP, Google IAP, credit/debit card, or USDC - no crypto wallet required. - Social layer: discover/follow creators, collect, appreciate, and trade with a few taps. - Utility NFTs: fan-pass functionality unlocking exclusive video messages and private chatrooms. - Supports 4 mainstream blockchains (logos shown, names not all legible). - Localized in English, Chinese, Bahasa Indonesia, Japanese. - OSD = OurSong Dollar, the platform's internal currency unit (prices shown in OSD on the app). ## Market - TAM framing: 5 billion internet users (total available market); crypto-native addressable market stated as <200 million unique ETH addresses. OurSong targets the remaining >96% of internet population. - NFT sales peak (market context): weekly NFT sales peaked at ~$400M in Aug/Sep 2021 before declining sharply; by early 2022 weekly volumes were ~$63M. - OpenSea daily volume peaked ~$200M in Jan 2022 and declined to near zero by Mar 2022. - 99.8% of 6.8M NFT collections on OpenSea never sold a single unit; only 15K (~0.2%) achieved any sale. - Deck thesis: the existing high-price/speculation NFT model is broken; a mass-market collectible/utility model is the opportunity. - No dollar TAM/SAM/SOM figures provided for OurSong's addressable market. ## Revenue model - Platform currency: OSD (OurSong Dollar). Prices visible in-app screenshots: e.g. Vibe Est. Market Value $5,034.76 OSD; NFT items priced at $188 OSD and $500 OSD; fried chicken NFT bid reached 1,999 OSD. - Transaction rails: Apple IAP, Google IAP, credit/debit card, USDC. - implies Apple/Google take-rate applies to IAP revenue (30% / 15%). - Revenue streams not explicitly broken out in deck. Likely: (a) primary sale take-rate / minting fee, (b) secondary sale royalty, (c) OSD currency exchange spread or float. - Brand/partner NFT campaigns mentioned (Pizza Hut, Sony Music, Liquid, Warner Music, SY Chicken, TS, Chatime). - implies potential B2B revenue from IP partnerships. - No explicit take-rate percentage, minting fee, or royalty rate disclosed in deck. ## Traction & metrics - Broccoli NFT (Shiyun fried chicken case study) bid price reached US$50,000; opening price was 1 OSD, bid climbed to 1,999 OSD (350x); final transaction price stated as 350x opening. - Global launch announced February 3, 2022 with John Legend as co-founder and chief impact officer. - No registered user count, DAU/MAU, total GMV, revenue, or growth rate disclosed. - Japan campaign: Anime x Music NFT contest ran Aug 12–22, 2021; results announced Sep 2, 2021. ## Competition / moat - Explicit positioning vs. "conventional NFT marketplaces" (e.g. OpenSea) serving crypto-natives at high price points. - Moat claimed: (a) no crypto wallet required; (b) mobile-first UX with local language support; (c) lower price-point collectible/utility model vs. speculation model; (d) celebrity co-founder (John Legend) for creator/fan activation; (e) brand partnerships (Sony Music, Warner Music, Pizza Hut, Chatime, etc.). - No explicit competitive matrix or named competitor comparison table. ## Team & funding ask / use of funds - Entity: Our Happy Company Pte. Ltd. (Singapore). - Co-founder / Chief Impact Officer: John Legend (Grammy winner, R&B artist). - Other founders/team: Not named in deck. --- ## Recommended financial model - **Archetype + why:** NFT Marketplace GMV model with in-app currency layer. OurSong is a two-sided marketplace (creators + collectors) transacting in OSD. The correct model tracks: (1) GMV (primary + secondary NFT sales in OSD/USD), (2) take-rate revenue, (3) IAP channel mix and net revenue after Apple/Google fees, (4) creator/brand partnership fees as a separate revenue line. A SaaS ARR model does not fit; a DTC model does not fit. Closest archetype is marketplace GMV (analogous to OpenSea or a games IAP marketplace). - **Forecast horizon & granularity:** Monthly for Year 1–2 (platform is early-stage, launched Feb 2022); quarterly for Year 3–5. 5-year horizon total. - **Key drivers & assumptions:** | Driver | Value | | -- | -- | | Registered users at launch | Unknown | | Average primary sale price (OSD/USD) | $188–$500 OSD visible in case study | | Apple/Google IAP fee | 30% (standard) / 15% (reduced) | - **Scenarios (Base / Bull / Bear - which variables flex):** - **Bear:** NFT market continues declining; conversion rate 2%, blended AOV $20, minimal secondary market. Revenue driven almost entirely by brand partnerships. - **Base:** NFT collectible/utility model gains traction in Asia; conversion 8%, blended AOV $50, secondary volume builds to 30% of primary by Year 2. John Legend drives creator acquisitions. - **Bull:** Mass-market breakthrough; MAU growth 20%+ MoM sustained 18 months; brand partnerships scale to 10+/quarter; secondary market royalties become dominant revenue stream. - Primary flex variables: MAU, primary sale conversion, blended AOV, secondary volume %, brand deal count. - **Required sheets / outputs:** 1. Assumptions - all drivers, toggle for scenarios 2. User funnel - registered → MAU → creator → converting creator 3. GMV build - primary sales + secondary sales, in USD (OSD conversion rate assumption needed) 4. Revenue build - gross take-rate revenue by line (primary, secondary, brand); IAP fee deduction; net revenue 5. P&L - net revenue, COGS (blockchain fees, hosting), gross profit, opex (headcount, marketing, G&A), EBITDA 6. Cash flow & runway - especially critical given no disclosed funding raise 7. KPI dashboard - MAU, GMV, net revenue, take-rate, creator/collector ratio 8. Scenario toggle - Base/Bull/Bear ## Frequently asked questions ### Is the OurSong financial model free? Yes. The OurSong model is a free Excel download with live formulas. ### Can I change the assumptions? Yes. The workbook is editable and its live formulas recalculate when assumptions change.