• The Founders Fund and Paradigm spearhead a $16 million investment in 3LAU’s NFT music platform Royal

  • Royal, a music-focused non-fungible token (NFT) investment platform, has launched a $16 million seed-stage funding.

    Royal, founded by 3LAU (actual name Justin Blau), an electronic dance music artist and NFT proponent, allows fans to ‘co-own’ music in the form of a digital asset — and potentially earn royalties with artists.

    The $16 million seed-stage investment in Blau’s current project is led by Paradigm and Founders Fund, with participation from Atomic and strategic partners including musicians, crypto professionals, and technologists.

    “Culture and investing are inextricably linked, and crypto is the epicenter of this. “Fred Ehrsam, co-founder and managing partner of Paradigm, and Justin [JD Ross, Royal’s other co-founder] both live near that intersection,” said Fred Ehrsam, co-founder and managing partner of Paradigm, in a statement. “Royal is the future we are heading toward: creators go direct to fans, and fans share in creators’ success.”

    Blau, an early adopter of NFT technology, sold a tokenized record for a stunning $11.7 million in March of this year. He was also a general partner at the investment firm Atomic and a previous co-founder of the real estate portal Opendoor.

    Royal’s CEO and co-founder, Blau, stated that the company’s goal is to disrupt the status quo by converting music “into an asset and creating an incentive for fans to be financially and emotionally associated with their favorite artists.”

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