Sound.xyz Opens Amid $20 Million Funding Round

Next-generation music distribution platform, Sound.xyzhas reached a major milestone in its plans to bring artist revenue to the masses. The company at the forefront of the music revolution has opened up its Web3 distribution service to anyone, while raising $20 million in its latest funding round.

Launched in 2022 with the backing of several major industry players including: snoop dog, Coinbase and Sound.xyz initially hosted only select artists as they honed their platforms. Effectively allowing participants to sell their music as her NFTs, bypassing the existing streaming market while fostering a loyal community of early adopters and fans.

But after a lot of building and testing, Sound.xyz has reached the stage where it can be opened to all artists. Therefore, anyone with the talent to create music can list and sell NFTs in its groundbreaking new environment and receive fair compensation for their work.

To get up and running, interested parties can create a Sound.xyz account and sign in for additional security verification. You can then upload songs, set prices, and list tracks entirely on your own terms.

Sound.xyz backs with $20 million funding round

In addition to opening the platform to a wider audience, Sound.xyz has also successfully raised an additional $20 million to help scale the project. Venture capital firm a16z crypto led this latest funding round with backing from Coinbase, Snoop Dogg, Ryan Tedder, Palm Tree Crew, Sound Ventures and others. In effect, you are securing the future of Sound.xyz as it moves forward and begins to tread uncharted new horizons.

Witnessing a grave injustice in the current streaming structure where artists earn a pittance for their work, Sound.xyz believes they have found a better way to distribute their music. A place where artists can set their own prices and terms and interact with fans on a more intimate level. Last year, despite a limited artist roster, he was already able to earn a staggering $5.5 million. But now that the artist cap has been lifted, that number could grow exponentially.

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