anotherblock is a Web3 music company that connects music rights to NFTs and offers a marketplace to buy and sell music rights. The platform has granted fans access to streaming rights in worldwide hit songs by artists including The Weeknd, Rihanna, Martin Garrix, Alan Walker, Offset, and R3HAB. Founded in 2021 by Michel D. Traore, Sebastian Ljungberg and Filip Strömsten and based in Stockholm, Sweden, the company targets artists, producers, and record companies. anotherblock plans to scale globally and expand product availability to a broader range of music creators and rights holders. To support growth it closed a €4M Seed funding round led by Stride.VC and joined by Axwell. The funding is intended to accelerate product availability and international expansion. anotherblock is a Swedish blockchain platform that connects music rights to NFTs to enable shared ownership of music tracks. The core product creates a hassle-free marketplace to buy and sell music rights and aims to democratise ownership of music. The company plans to launch its NFT offering later this year to enable royalty-share drops. anotherblock was founded in 2021 by Michel D. Traore, Sebastian Ljungberg and Filip Strömsten, with Traore serving as CEO. The startup has raised $2.5 million in its latest financing to support its product rollout. anotherblock is building a blockchain-based marketplace to tokenize and trade music rights, launching an NFT-focused platform. The startup will initially introduce tokens tied to royalty rights that generate ongoing royalties corresponding to ownership. It also plans unique NFTs that grant a single buyer exclusive enjoyment of the art in-person or within the metaverse. Artists who place rights on the blockchain will receive a transaction payment/trade-royalty each time an NFT is traded, in perpetuity. Once the NFT marketplace is operating, the company will expand into rights management for artists and labels on the blockchain. The team is led by Michel D. Traore (CEO), Sebastian Ljungberg (CTO) and Filip Strömsten (COO); advisors include Doc McKinney.

Total raised

$8M

Funding rounds

3

Latest round

Seed

Latest activity

May 2023