The fund will debut a unique way to invest directly in musicians: “At some point in time everyone will be able to invest $5 into their favorite artist.”
Is there a future where fans can invest in their favorite artists? Or where the music industry invests in a musician’s entire brand, rather than just their music catalog? A new venture capital fund aims to explore this concept. Coop Records — the first dedicated Web3 music fund — has raised $10 million to invest in early-stage companies and support musicians directly through a new artist business model.
The majority of the fund will be deployed into pre-seed and seed stage investments in Web3 companies, but there’s also scope to bring Web2 startups into the fold. “A company doesn’t have to be in Web3 today,” Turley says. “But if there’s an opportunity to add Web3 rails I’m very excited about that.”Turley aims to build a portfolio of companies that can work together as a community, which he characterizes as the antithesis of Web2.
Rather than a traditional record label – which buys “catalog” on a song-by-song or album-by-album basis, Coop Records will invest in the musician as a whole by setting up a company around them. Says Turley, “What does it look like to have a small piece of equity in the artist brand and have longer-term exposure to everything they create?”
Using this model, after several rounds of early investment, the artist could “go public” by issuing a token, which could then be traded on something like a creator stock market. “At some point in time everyone will be able to invest $5 into their favorite artist,” Turley says. “In the same way you’d invest in a tech company.”
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Sony Music files trademark application for NFT-authenticated musicSony Music has signaled intentions to make use of NFTs after filing a trademark application in the United States for recordings that would be 'authenticated by non-fungible tokens.'
Lire la suite »
Sony Music Files NFT-Related TrademarkSony Music Entertainment has filed several trademark applications for non-fungible tokens and NFTs
Lire la suite »
Former Revolut employees raise $78 million for web3 energy startupFormer Revolut employees have raised a $78 million round for Tesseract, a web3 startup that aims to tokenize the energy business.
Lire la suite »
Kapor Capital, Black-Led VC Firm Focused On ‘Impact,’ Raises $126 MillionThe funding, which makes Kapor Capital one of the largest Black-led VC firms by assets, will help it continue to invest in “gap-closing” impact-minded startups.
Lire la suite »