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We may still be mired in the ‘#CryptoCrash’ but investment continues to flow into the web3 music space. Today’s startup raising funding is Tamago, which is an Audius-style decentralised music streaming service with plans for NFTs. It has raised $1m of seed funding, and signed up the likes of Felix da Housecat and Tiga to drop NFTs with it this summer. It’s very early days though: Tamago has just 700 users and one thousand tracks available.

In other news, Pharrell Williams is hopping aboard the bandwagon with the launch of the Gallery of Digital Assets (GODA for short). It’s focused on selling NFTs based on the traditional art world, with the first drop coming this summer.

Finally, we’re enjoying the press release about British artist Knucks sharing a bitcoin with two fans at his gig this week at Koko in London. Complete with a photo of them literally sharing a giant model bitcoin. “The two fans have the option of cashing in, or using a portion of the prize with Knucks to create a fund together with the artists creating a first of its kind connection, with which they can invest in NFTs and cryptocurrencies,” apparently. We’ll let you decide which option is most sensible…

Music Ally’s next Learn Live webinar will help you understand what’s required for artists to thrive in new international markets!

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Stuart Dredge

Music Ally's Head of Insight

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