Music NFT & Web 3 News: $10M Music Startup Fund • Reveel Adds $1.3M • Fanaplay + Revolver • EventsFrame NFT Tickets
Trading on the top NFT marketplace, OpenSea has fallen 99% since May. But that hasn’t completely stopped the funding flow for Web3 music startups, and Music NFTs creators are now smartly focused on building community rather than quick profits.
Here is a summary of some new Music NFT & Web 3 raises and launches.
Cooper Turley Launches $10 Music Startup Fund
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 a incubator”
The dissertation
- “Music is a difficult industry to invest in.”
- “As someone who has consumed music all my life, there have been very few opportunities to participate in the growth of the artists I love most.”
- “What if you could be an early investor in SoundCloud or Spotify? Universal Music Group or Roc Nation? Drake, Post Malone or Illenium?”
- “Web3 gives us that opportunity – and that’s why I’m starting a fund to invest in music.”
More here.
Web3 music revenue share, accounting platform Reveel raises $1.3 million
Reveel, a web3 music revenue sharing protocol, has raised $1.3 million in pre-seed funding led by Binance Labs and Moment Ventures. Reveel was part of Binance’s incubation program.
Reveel “makes collaboration easier” by providing transparency for creators through tools that simplify the administrative side of revenue sharing and royalty accounting. The start-up will use the capital for staff expansion and product development of their financial infrastructure for web3 collaboration and toolkit for revenue management on the chain.
Fanaply & Revolver Magazine launch the ICON SERIES
Fanaply, an eco-friendly NFT solution provider, and Revolver Magazine have announced a partnership to launch the REVOLVER ICON SERIES, a limited edition of custom-produced vinyl records, each paired with a unique NFT and premium NFC-enabled packaging.
Instead of visiting a separate marketplace to discover and collect REVOLVER ICONS SERIES vinyl + NFT bundles, Revolver Magazine worked with Fanaply to develop a proprietary ecosystem for the production, marketing and remarketing of the collectibles so that fans can stay within the Revolver- the platform.
The first pack was released on September 7 and sold out in less than 12 hours.
EventsFrame Relaunches as an NFT Ticketing Platform for Events “For the Masses”
Digital merch is a key component.
“In the future, visitors will purchase event merchandise in digital format as NFTs to display on social media and in their virtual as well as physical worlds. Personal virtual ‘trophy rooms’ will represent where you’ve been and most importantly your precious memories. – Pavel Helstyn, head of business development at EventsFrame.
