anotherblock, a web3 platform that lets followers spend money on music by shopping for NFTs, has raised $2.5m (24m SEK) in a brand new spherical of funding.
The spherical was led by Inventure, a Nordic Enterprise Capital agency, and was joined by Centrifuge.io founder Maex Ament, Dune.xyz’s Fredrik Haga and Blockchain analysis and funding firm StableNode.
anotherblock joins different startups working within the fractional music funding area like, Royal.
Royal, based by Justin Blau, raised $55 million in November and has launched NFT initiatives from the likes of Nas, Diplo and most not too long ago the Chainsmokers.
anotherblock says that this newest spherical noticed participation “from producers and artists”, together with Grammy-winning producer DannyBoyStyles, in addition to labels and publishers who participated within the startup’s earlier spherical.
anotherblock raised $1.2m in pre-seed Funding in January.
anotherblock was based in 2021 by entrepreneurs Michel D. Traore, Sebastian Ljungberg and Filip Strömsten.
On the corporate’s web site, it states that “Investing in music ought to be simple” and that, “by connecting music rights to NFTs, we create a easy and safe manner of shopping for and promoting music rights”.
The platform plans to supply its first NFTs later this 12 months.
“On this market, we see this as a extremely encouraging signal we’re providing actual worth to the music enterprise.”
Michel D. Traore, anotherblock
Michel D. Traore, CEO and Co-founder of anotherblock, mentioned: “We’re thrilled on the vary and enthusiasm of the assist we’re receiving from traders.
“On this market, we see this as a extremely encouraging signal we’re providing actual worth to the music enterprise.”
“Out of all of the options within the music possession and NFT area, anotherblock was the primary one the place the NFTs have actual underlying worth and utility for holders.”
Lauri Kokkila, Inventure
Lauri Kokkila, Companion at Inventure, mentioned: “Out of all of the options within the music possession and NFT area, anotherblock was the primary one the place the NFTs have actual underlying worth and utility for holders.
“Their crew and pipeline of drops blew our thoughts– we consider anotherblock is actually democratizing the possession of music for everybody.”
“I see an funding in anotherblock as an funding in one other future, the place energy is again within the fingers of creators.”
DannyBoyStyles
DannyBoyStyles mentioned: “anotherblock is shaping as much as be an unbelievable companion to producers like me, professionals in search of new, empowering methods to assist their creativity and construct sustainable careers.
“I see an funding in anotherblock as an funding in one other future, the place energy is again within the fingers of creators.”Music Enterprise Worldwide
