SoundMint, a marketplace for generative music NFTs, announced that it has raised $1.7 million during its seed funding. Animoca Brands led the seed round with participation from Castle Island Ventures, Focus Labs, Sfermion, Sky Vision, Tess Capital and Goodwater Capital.
SoundMint introduces generative music NFTs
SoundMint is a platform reinventing 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 on Web3, where the bulk of the sale goes to the artist.
SoundMint’s NFTs are musical compositions derived from stems. Each has distinct acoustic properties that combine algorithmically to create a range of unique musical works of art. 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, you have a voice about what happens in their creations in the future.
“With its mission to merge the worlds of NFTs and music, SoundMint is pioneering a new and potentially extremely valuable path on the Web3,” said Yat Siu, executive chairman and co-founder of Animoca Brands. “We are thrilled to support this talented team who are quickly establishing themselves as a leader in music NFTs.”
“SoundMint bridges a gap between the NFT community and musicians. It expands the way art and music can be shared and consumed,” said Andre Benz, CEO of SoundMint. He added that the startup’s mission is to empower musicians and artists. Also, enable them to create unique collaborations. Ultimately, it revolutionizes the way artists and fans create community together.
Soundmint creates NFT marketplace
In line with the company’s roadmap, SoundMint will use 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. Also, create a dashboard for NFT fans to view exclusive content from artists and access other benefits.
Last but not least, SoundMint will also be launching SoundMint Vinyl, an NFT that current owners can redeem in the future.