- Music NFC exchange company Muverse announced it has raised $6 million.
Music NFT exchange company Muverse announced it has raised $6 million in a seed round of funding from an investor consortium including Syndicate Capital, Knights Templar Capital, Zonff Partners, AvatarDAO, and several angel investors.
Muverse is a platform that essentially enables the free trade of global music NFTs, enabling music artists, investors, and fans around the world to participate in frictionless trade. And the platform offers users gamified interactions, investment, and revenue scenarios, including a rhythm game combined with an earning mode and an NFT exchange that provides liquidity to its users.
The fund raised in the seed funding round will be used to expand the platform’s features and services, accelerate user acquisition, and enhance the user experience. And the platform is developing its phase II products, which will include the Music NFT exchange, NFT fragmentation function, and an AMM pool for its F-NFT / MCT trading.
Muverse’s phase I product is a powerful rhythm game – which was combined with an earning mode, enabling users to earn token revenue while playing the game. And the combination of a rhythm game and earning mode will bring large numbers of game players and crypto investors to the Muverse app and help build a strong community that could drive the development of the Muverse ecosystem.
Muverse utilizes a dual-token model to meet the different needs of its users. And the MCT token is the in-app utility token, and the MU is the platform token.
Muverse has a global team with employees spread across Los Angeles, Seoul, Singapore, Vietnam, Indonesia, and the Philippines. And the founding team has rich resources in Hollywood and Entertainment. Muverse has Sidney Ganis, former President of AMPAS (Oscar organizers) and former VP of Lucasfilm, Marvel, and Paramount, as its advisor. And Muverse had also partnered with FNC Entertainment in Korea and successfully sold out K-pop star Lee Hong-ki’s music NFT in an hour.
With this latest round of funding, Muverse is poised to become a leading player in the fast-growing web3 music and NFT market.
KEY QUOTE:
“We’re thrilled to have the support of Syndicate Capital, Knights Templar Capital, Zonff Partners, AvatarDAO & Sun Artland Ltd who share our vision for creating a more efficient, frictionless, and highly liquid music NFT trading ecosystem. With their backing, we’re confident that we can continue to build a world-class platform that will empower musicians, investors, and fans around the world.”
— Muverse COO Mark Rau
