The NFT music startup anotherblock has garnered a significant investment of $2.5 million.

The web3 music sharing startup anotherblock is gearing up to introduce its first NFTs following a successful investment round that netted $2.5 million.

Founded just over a year ago by Michel D. Traore, Sebastian Ljungberg, and Filip Strömsten, anotherblock had previously secured $1.2 million through a pre-seed funding campaign in January. Major backers include Nordic venture capitalists, Maex Ament, who is the founder of Centrifuge.io, and the blockchain investment firm StableNode. Additionally, artists, producers, music labels, and publishers have also invested in anotherblock. Inventure This platform, which aims to revolutionize music ownership, operates on a royalty-based model that believes in making music investment straightforward and accessible. Their objective is to link music streaming rights with NFTs, thereby establishing a robust framework for buying and selling music rights securely.

Investors envision anotherblock as a significant player in the future of music ownership. belief Lauri Kokkila, an investment partner from Inventure, recently stated, \"We believe that anotherblock is genuinely democratizing music ownership for everyone involved.\"

Grammy-winning producer DannyBoyStyles, who also holds equity in anotherblock, shares a similar vision. He noted, \"My investment in anotherblock.io signifies a commitment to a future where creators reclaim their power.\"

Anotherblock plans to position itself alongside other fractional music investment platforms, such as Royal, which raised $55 million in November 2021. Although the exact distribution dates are still under wraps, anotherblock asserts that their first drops are imminent. tweeted The company is set to showcase its innovations at NFT.NYC, a prominent annual event focusing on NFTs, occurring this month.

The NFT music marketplace, FanTiger, has raised an impressive $5.5 million. said .

Universal Music Group has filed four trademarks associated with the Bored Ape Yacht Club (BAYC). raised This is the fourth weekly report on fundraising in the Metaverse sector. NFTs will be accessible later this year.

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