Swing a cat in 2021 and you’ll hit seven companies exploring music NFTs – and the cat was probably already tokenised on the blockchain before you even picked it up.
We’re getting a sense of which companies have momentum, partly through their fundraising.
Rcrdshp, for example, is a startup creating NFTs based on electronic music and its surrounding culture. It launched its first collection in August and sold out in a matter of hours, before repeating the trick with its second drop later that month.
Now Rcrdshp has raised a “multi-million dollar” seed funding round from a group of NFT/blockchain investors, including Dapper Labs, the company behind the CryptoKitties game (and you thought our tokenised-cat line was just a silly joke!) which itself took investment from Warner Music Group in 2019.
“The support from such high-profile and knowledgeable investors validates our model and affirms that our approach to digital collectibles and electronic music culture is poised to skyrocket,” said Rcrdshp co-founder Eric Reithler-Barros.
Blanco Y Negro, Strange Fruits and Wookie are among the labels and artists who have worked with the company so far.