The first and only blockchain web3 music creation platform.
Arpeggi Labs, a new cryptocurrency firm that aims to use blockchains to foster collaboration in music production, has received $5.1 million in seed funding from Andreessen Horowitz's crypto division in addition to backing from a number of investors and musicians, including Steve Aoki, 3LAU, Wyclef Jean, Shayne Coplan, Paul Veradittakit, Cooper Turley, Disco Fries, Electric Feel Ventures, Louis Bell, Joe Zadeh, Palm Tree Crew, the Audius Foundation, and others.
The company wants to use blockchain technology to create a music creation suite that incorporates an open source ethos and lets producers sample a wide range of tunes and sounds while the platform makes sure that credit is always given appropriately to the original composers.
The company's three founders, Evan Dhillon, Kyle Dhillon, and James Pastan, hope that this arrangement will promote the emergence of a new "remix culture" within the music business and enable TikTok-like inventive IP reuse that will benefit all of the creators who contributed to a viral hit. The founders of Arpeggi claim that while this feature may not inherently require the blockchain, the technology just makes it simpler.
The free platform acts as a hub for both creation and consumption, which presents a chance to align blockchain incentives but may also make it difficult to attract a unified audience.
The company has not decided whether it will eventually look to issue a token for the platform, but according to the founders, their main focus is on luring music professionals who have not yet embraced the web3 philosophy but are enthusiastic about the idea of the sector doubling down on open source.
Find out more here: https://arpeggi.io/
Comments