Web3 is one of many decentralized disruptive technologies, the next version of the internet (web) that has opened new frontiers in the technological space.
The advent of Web3 technology amongst others has culminated in the rise of similar technologies and a surge in startups exploring and exploiting its potential for growth and development.
Founded in 2021 by Michel D. Traore, Sebastian Ljungberg and Filip Strömsten, anotherblock is a Web3 platform that connects music rights to NFTs and offers a way for users to both buy and sell music rights. The company has granted fans access to streaming rights for worldwide hit songs from artists like The Weeknd, Rihanna, Martin Garrix, Alan Walker, Offset, and R3HAB.
“Our primary focus in the first year was to educate and prove our product, but going forward, it’s about reaching an even wider audience, particularly outside of the crypto space, and enabling even more creators to get involved,” said CEO Michel Traore.
The Stockholm, Sweden-based Web3 music company recently announced a raise of €4M in Seed funding in a round that was led by Stride.VC and joined by Axwell.
The company said it intends to use the funds to scale up globally and make its product available to a more extensive range of artists, producers, and record companies.