.a16z and snoopdogg are part of soundxyz_ ’s $20 million fundraise to help decentralize artist income within the music industry. camgthompson reports:
Web3 music platform Sound has raised $20 million in funding to help artists earn a sustainable income throughout their careers.
Sound’s goal is to disrupt the traditional revenue models of Web2 streaming services such as Spotify or Apple Music. The company’s platform allows artists to mint their songs on-chain as a non-fungible token to sell directly to fans and has helped music creators generate $5.5 million on their music sales since its beta launch in 2022. Now, it's opening access to the public to help more artists earn a livable income off of their work.
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