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