Trading on the top NFT marketplace, OpenSea has fallen 99% since May. But that hasn’t entirely stopped the flow of funding for Web3 music startups, and Music NFTs creators are now smartly focused on building community rather than quick profits.
Here’s a roundup of some new Music NFT & Web 3 raises and launches.
Sometimes controversial crypto investor/influencer Cooper Turley has launched Coop Records, a $10 million early-stage fund to invest in “platforms, protocols, artists, and tokens uniquely enabled by web3… a hybrid between a web3 venture fund, a record label, and an incubator”
More here.
Reveel, a web3 music revenue share protocol, has raised $1.3M in pre-seed funding led by Binance Labs and Moment Ventures. Reveel was part of the Binance’s Incubation Program.
Reveel “makes collaboration simpler” by providing transparency for creators through tools that make the administrative side of revenue sharing and royalty accounting easier. The startup will use the capital for staff expansion and product development of their web3 collaboration financial infrastructure and on-chain revenue management tools suite.
Fanaply, an eco-friendly NFT solution provider and Revolver Magazine have announced a partnership to launch the REVOLVER ICON SERIES, a limited run of custom-produced vinyl records, each paired with a unique NFT and premium NFC enabling packaging.
Rather than visiting a separate marketplace to discover and collect the REVOLVER ICONS SERIES vinyl + NFT bundles, Revolver Magazine worked with Fanaply to develop a proprietary ecosystem for producing, marketing, and remarketing the collectibles so fans can stay within the Revolver platform.
The first bundle dropped on September 7th and sold out in less than 12 hours.
Digital merch is a key component.
“In the future, visitors will buy event merchandise in the digital format as NFTs to showcase on social media and in their virtual as well physical world. Personal virtual “trophy rooms” will represent where you’ve been and most important your treasured memories.” – Pavel Helstyn, hHead of Business Development at EventsFrame.
And there is so much more that blockchain-based ticketing can offer. EventsFrame’s solution will help event organizers to increase revenue, build communities and empower their marketing effort. https://t.co/QomGtkgZaZ
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