Music NFTs roundup: Public Pressure, 3lau, UMG…


Startup Public Pressure recently announced that its first collection of music/gaming NFTs had generated more than $2m in sales. Now the company has raised a $6m funding round led by digital asset manager Scytale. Ethereum co-founder Gavin Wood was also among the investors: he’s also the founder of the Polkadot network, which Public Pressure is using.

Meanwhile, Justin ‘3lau’ Blau is eating his own dog food by sharing ownership in his new single via his NFTs startup Royal. Although he’s sold NFTs based on his music before, it’s the first time he’s used his own platform, with the sale sharing 50% of his recording streaming royalty rights between 330 gold tokens ($111 a pop for 0.1165% ownership) and three diamond tokens ($3,333 for 3.8488% ownership).

Finally, Universal Music Group has announced two new appointments to beef up its web3 team. Former SoundCloud exec Alvaro Galbete-Velilla has joined as SVP of new business, with web3 and metaverse partnerships under his wing, while UMG’s Kristen Bender has been promoted to SVP of digital innovation strategy and business development – again, with web3 deals and experiments a key part of the role.

Written by: Stuart Dredge