The latest startup hoping to help artists navigate the new worlds of web3 is Medallion, based in New York and founded by former Songkick CEO Matt Jones. It’s building a tool for artists to create their own web3-infused communities of fans, and has just raised a $9m round of seed funding to continue that development.
The investors are a who’s who of the crypto and VC world (including Betaworks, POAP Ventures, Polygon Ventures, The Chernin Group) and the music industry (Mike Shinoda, Red Light Ventures, Tycho).
Jones promised that Medallion is about more than just blockchain or NFTs hype. “The opportunity in web3 is about building long lasting connections, not short-term financial gains,” as he put it.
The company is currently lining up “select artists” to test its service over the next six months, according to Jones’s announcement blog post.
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