Based in Sweden, Anotherblock is a Web3 music platform. It enables artists to fund their careers by allowing them to sell a portion of their future royalty streams–represented as NFTs–of a track on the platform to their fans. In addition to earning royalties, which are paid out in USDC, when the songs are streamed, fans also gain access to exclusive utilities from their favorite artists. Furthermore, fans have the option to sell their music rights on the company's marketplace.
Funding and financials
In May 2023, AnotherBlock raised USD 4 million in a seed funding round led by Stride.VC, with participation from musician Axwell of Swedish House Mafia. It had planned to use the fresh funds to scale its product globally to reach a wider audience and create an ecosystem that allows music artists to fund their careers and engage with their fanbase through the platform.
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