Pianity, a Paris, France-based NFT marketplace that enables artists and fans to create, collect and trade unique digital artwork, secured $6.5m in seed financing.
The round was led by Digital Renaissance Foundation, Big Brain Holdings, and Longhash Ventures, with participation from IOSG; LD Capital; Sebastien Borget, co-founder and COO at TheSandBox; ViaBTC; ArkStream Capital; Arweave; and Ronny Shibley, CTO and co-founder at Gorillas.
The company intends to use the funds to partner with major music companies worldwide, expand its headcounts with a team of country managers and artists relations managers, open offices in the U.S. and Latin America to support its expanded reach across the music industry, develop a mobile application and additional functionality for its streaming services, such as creating an NFT playlist and building a library, scale up artist onboarding and increase its music catalog – including the addition of more artists and music genres – and partner with major music festivals.
Led by Kevin Primicerio, CEO and co-founder, Pianity allows artists to sell their tracks as limited editions and connect with their fans, bringing a new way to monetize and create value from music. Since its launch, the platform has sold 11,000 NFTs and has over 20,000 users on the platform. Artists have collectively earned over $1.9M from NFT sales.
With Pianity, fans and collectors can “give back” to artists by purchasing limited edition tracks that are indefinitely stored on the blockchain.
The platform redistributes 50% of its earnings in tokens to all active users each week.
FinSMEs
02/03/2022