RCRDSHP Closes A Multi-Million Dollar Seed Round
RCRDSHP Closes A Multi-Million Dollar Seed Round
Today brings news of yet another multi-million dollar funding round for a digital collectables platform, bringing the total amount raised by the NFT market in 2021 to over $1 billion.
This week, RCRDSHP, an NFT platform for electronic music, announced the completion of its first investment round. The platform estimates that the seed round was worth "multi-million dollars."
According to our information, the platform has raised more than $5 million in seed funding.
MakersPlace, a San Francisco-based non-financial technology (NFT) platform, raised $30 million in a Series A round led by Bessemer Venture Partners and Pantera Capital last month.
In May, the NFT platform OneOf raised $63 million in a seed round led by prominent figures from the technology and music industries.
Among those who contributed to RCRDSHP's seed round were NFT collectors Metakovan and Twobadour (through PortKey Technologies), as well as Dapper Labs.
A $69 million digital art piece created by Beeple and auctioned at Christies was purchased by Metakovan and Twobadour in March, making them the owners of the highest-priced NFT in history.
An official press release states that each limited-edition RCRDSHP collectible, which is built on the Flow blockchain, "encapsulates a unique aspect of an artist, label, or festival's musical worlds."
The platform officially launched in mid-August with the release of 5555 "genesis packs," which were made up of digital collectibles from the electronic and dance music genres.
According to RCRDSHP, the initial release sold out "in a matter of hours," with a second, larger release selling out "in minutes" the following week.
Among the music and content partners of RCRDSHP were Aneesh Gera, Ashley Wallbridge, Bar25, Black Hole Recordings, Blanco Y Negro, Blacksoul Music, Christian Barbuto, Circus Recordings, CloudKid, Dexter King, Dino Maggiorana, Disco Fries, D-Nox and Beckers, D-Unity/Unity Records, Great Wall Festival, HQ Recordings, Iboga Recordings,
Among the other collaborators are Kittball Records, Liquicity, M.I.K.E Push, Magic Music, Mark Knight/Toolroom Records, Mason, Mauro Picotto, Music Over Matter, Minimal Audio, Mobilee Records, Nakadia, Natura Viva Records, Plastik Funk, Robert Babicz, Rob Hes/Pursuit Recordings, RSSRCT, Scott Diaz, Sharam Jey/Bunnytiger Records, Stefano Noferini
“The waves of attention and money that have been poured into non-profits have not yet reached the vast majority of artists and creatives,” Metakovan stated.
“A platform such as RCRDSHP has the potential to shift the balance and allow more creators to benefit from digital collectibles.”
In the words of Roham Gharegozlou, CEO of Dapper Labs, "RCRDSHP takes NFTs and makes them more widely available by building a platform that is tuned in to the needs of music communities."
”What we see very clearly is a visionary leadership team of senior music and technology executives who are at the top of their fields, with a passion that stretches for miles,” says the author.
“The support of such high-profile and knowledgeable investors validates our model and confirms that our approach to digital collectibles and electronic music culture is poised to skyrocket,” said Eric Reithler-Barros, Co-Founder and Chief Commercial Officer at RCRDSHP and parent company LTMP.
“We are thrilled to announce the launch of our vision and the creation of a space where creators can finally receive well-deserved compensation for their efforts.”
