“Sound, a Web3 music platform, raises $20 million for its innovative solution in reshaping the music industry using blockchain technology. It enables music creators to mint their songs as NFTs and sell them directly to fans, eliminating intermediaries and ensuring 100% revenue retention for artists. With active backing from notable music industry figures, this initiative marks a significant stride in blockchain adoption in entertainment.”
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Blockchain, NFTs, and Music: Revolutionizing the Industry or a Passing Fad?
The blockchain-powered Web3 music NFT marketplaces, such as AnotherBlock and Royal, enable fans to acquire tokenized music rights and earn royalties alongside artists. With high-profile backing and increasing interest, this intersection of blockchain and music presents a new frontier for creators, fans, and the industry.