Sound.xyz Raised $20M, Led by a16z

On-chain music startup Sound.xyz has confirmed the public launch of its new artist-first NFT platform alongside a further $20 million in Series A funding led by Andreessen Horowitz.

Founded in 2021, Sound allows musicians to upload their songs to the on-chain platform and sell them for whatever price they want. Over the past 12 months in closed beta, Sound has paid out $5.5 million in total to 500 artists, who have collectively released some 1,600 songs as music NFTs.

From today, any artist can now upload their music to Sound and retain 100% ownership. Sound lets artists mint NFTs on the Ethereum mainnet, as well as scaling network Optimism.

TokenInsight is dedicated to covering the most important and cutting-edge trends in the world of crypto. If you have information to share with us, please feel free to contact our email news@tokeninsight.com. Your trust will be well respected.