Like buses, it seems web3 sync-licensing startups turn up in pairs.
Well, we already knew about Dequency: it raised $4.5m in funding earlier this year to launch its sync marketplace, with a focus on licensing music for NFTs, games and metaverse projects.
Now Dequency has emerged from a four-month restricted beta test to launch as “the only option for on-chain sync licensing for blockchain-native content”. It’s looking to add music to its catalogue from music companies and musicians who control both the recording and publishing rights for tracks.
It has competition though: SphereTrax is a startup founded by composer Sefi Carmel that will be licensing music to traditional sync customers (film, TV, ads, games etc) but also for VR, AR and XR clients. It’s also touting a feature where customers “will be able to purchase tracks as NFTs, essentially taking them off the market for other buyers”. It’s planning to launch later this year.
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