SoundMint, a marketplace for NFT music producers, reported that it raised $1.7M during its initial funding. Animoca Brands led the first round with participation by Castle Island Ventures, Focus Labs, Sfermion, Sky Vision, Tess Capital, and Goodwater Capital.
SoundMint introduces NFTs for productive music
SoundMint is a platform which re-visualizes the process of creating a new form of art and music. Startup is a new medium for creating music. It brings creative to the way people interpret music collectibles in Web3, where most sales go to the artist.
SoundMint’s NFTs are musical combinations derived from stems. Each has several acoustic features that are algorithmically combined to create an exclusive set of musical art pieces. In this new form of productive music, the NFTs have corresponding visual elements.
By having a SoundMint collectible, fans can back the artists they like by investing in their work. Simultaneously, have a voice in what in their future creation.
“SoundMint is following a new and potentially valuable path in Web3 with its mission to integrate the world of NFTs and music,” said Yat Siu, CEO and co-founder of Animoca Bands. “We are very interested to back this talented group which is rapidly establishing itself as a leader in NFT.”
“SoundMint is linking the space between the NFT community and musicians,” said Andre Benz, CEO of SoundMint. He stated that the startup mission is to empower musicians & artists. Also, enable them to create special partnership, finally, transforming the way artists and fans create communities together.
Soundmint creates NFT marketplace
In line with the company’s roadmap, SoundMint uses the funds raised to create an NFT marketplace. This platform allows artists to create their own NFT music.
Besides, it helps them interact with collectors and other creators. In addition, create a dashboard for NFT-holding fans to view artist-exclusive content and access other benefits.
Finally, SoundMint will release SoundMint Vinyl, an NFT for present owners to use in the future as well.