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NFT Music Platform Royal Closes $55M Funding Round Led by a16z

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  • Royal, the music tokenization platform launched by DJ and entrepreneur Justin “3LAU” Blau, closed a $55 million Series A funding spherical on Monday, CoinDesk confirmed.
  • A16z led the spherical, which additionally included participation by Coinbase Ventures and the performers, The Chainsmokers and Nas.
  • “In addition to their audacious vision, what makes this founding team so unique is 3LAU’s firsthand experience as a musician paired with JD’s exceptional track record as a repeat founder and startup operator,” a16z basic companion Katie Haun wrote in a weblog publish.
  • The funding comes lower than three months after Royal raised a $16 million seed spherical. Paradigm and Founders Fund every invested $7 million on this earlier funding, securing board seats for his or her respective basic companions, Fred Ehrsam and Keith Rabois.
  • Royal slices up track royalty rights into crypto tokens that anybody should buy and commerce.

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