anotherblock, the web3 platform that lets you co-own a piece of amazing music tracks, will begin to offer its first NFTs later this year. To set the stage, it’s bringing together a community of music fans, web3 leaders, and forward-thinking creators to build a better way to support music. This includes welcoming new investment from notable names in music and crypto and engaging the community as a speaker at NFT:NYC this June.
The $2.5m (24m SEK) round is led by Inventure, a major Nordic VC, and joined by Dune.xyz’s Fredrik Haga, Centrifuge.io founder Maex Ament, and Blockchain research and investment company StableNode. In this latest round, they are joining producers and artists, most notably GRAMMY-winning producer DannyBoyStyles, as well as labels and publishers who participated in the startup’s previous round.
“We’re thrilled at the range and enthusiasm of the support we’re receiving from investors,” notes Michel D. Traore, CEO and Co-founder of anotherblock. “In this market, we see this as a highly encouraging sign we’re offering real value to the music business.”
“Out of all the solutions in the music ownership and NFT space, anotherblock was the first one where the NFTs have real underlying value and utility for holders. Their team and pipeline of drops blew our mind– we believe anotherblock is truly democratizing the ownership of music for everyone,” says Lauri Kokkila, Partner at Inventure.
“anotherblock is shaping up to be an incredible partner to producers like me, professionals looking for new, empowering ways to support their creativity and build sustainable careers,” explains DannyBoyStyles. “I see an investment in anotherblock as an investment in another future, where power is back in the hands of creators.”
anotherblock is a community of music lovers building music rights catalogs. The company was founded in 2021 by the entrepreneurs Michel D. Traore, Sebastian Ljungberg and Filip Strömsten. anotherblock was built upon the idea that that accessing music rights should be easy and democratic. By connecting music rights to NFTs, anotherblock creates a smooth and easy way to both buy and sell music rights – a community of music lovers building music rights catalogs together with artists. The company’s founders created anotherblock to increase the value of music by introducing it to a free and open market. This will solve the institutionalized imbalance of power within the industry.
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