NFT Music Platform Royal Closes $55M Funding Spherical Led by A16z

 NFT Music Platform Royal Closes $55M Funding Spherical Led by A16z



Royal, the music tokenization platform launched by DJ and entrepreneur Justin “3LAU” Blau, closed a $55 million Sequence A funding spherical on Monday, CoinDesk confirmed.

  • Andreessen Horowitz (a16z) led the spherical, which additionally included participation by Coinbase Ventures, Paradigm and the performers, The Chainsmokers and Nas.
  • “Along with their audacious imaginative and prescient, what makes this founding staff so distinctive is 3LAU’s firsthand expertise as a musician paired with JD’s distinctive monitor document as a repeat founder and startup operator,” a16z Common Associate Katie Haun wrote in a weblog publish.
  • The funding comes lower than three months after Royal raised a $16 million seed spherical. Paradigm and Founders Fund every invested $7 million on this earlier funding, securing board seats for his or her respective normal companions, Fred Ehrsam and Keith Rabois.
  • Royal slices up track royalty rights into crypto tokens that anybody should purchase and commerce.

Learn extra: 3LAU Raises $16M to Tokenize Music Royalties for Artists and Followers



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