SoundMint, a marketplace for generative music NFTs, announced it raised $1.7 Million during its seed funding. Animoca Brands led the seed round with participation by Castle Island Ventures, Focus Labs, Sfermion, Sky Vision, Tess Capital, and Goodwater Capital.
SoundMint Introduces Generative Music NFTs
SoundMint is a platform that reimagines the process of creating a new form of art and music. The startup is a new medium of music creation. It brings innovation to the way people interpret music collectibles in Web3, where the majority of the sale goes to the artist.
SoundMint’s NFTs are musical compositions derived from stems. Each has different acoustic properties algorithmically combined to create a set of unique musical art pieces. In this new form of generative music, the NFTs have corresponding visual elements.
By owning a SoundMint collectible, fans can support the artists they love by investing in their work. At the same time, have a voice in what in their creations in the future.
“With its mission of fusing the worlds of NFTs and music, SoundMint is trailblazing a new and potentially extremely valuable path in Web3,” said Yat Siu, Executive Chairman and Co-Founder of Animoca Brands. “We’re very excited to support this talented team that is quickly establishing itself as a leader in music NFTs.”
“SoundMint is bridging a gap between the NFT community and musicians. It is expanding the ways art and music can be disseminated and consumed,” said SoundMint CEO Andre Benz. He added that the startup’s mission is to empower musicians and artists. Moreover, enable them to create unique collaborations. Ultimately, revolutionizes the way artists and fans create community together.
Soundmint Builds NFT Marketplace
In line with the company’s roadmap, SoundMint is using the funds raised to build an NFT marketplace. The platform will allow artists to create their own music NFTs.
In addition, it will help them interact with collectors and other creatives. Moreover, create a dashboard for NFT-holding fans to view exclusive content from artists and access other benefits.
Lastly, SoundMint will also launch SoundMint Vinyl, an NFT for current holders to redeem in the future.
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