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A technology startup aiming to change how musicians connect with their fans has a new venture capital fund getting behind them: Metallica.
What’s happening:
- New York City based direct to fan music platform Medallion has raised $13.7M USD in a Series A financing round co-lead by Dragonfly and Lightspeed Faction
- The round also saw participation from other notable investors such as Metallica’s venture capital fund Black Squirrel Partners, Coinbase Ventures, Infinite Capital and Zeal Capital
The big idea:
- Medallion is reinventing the way that musicians are able to connect with their fans through a new intuitive digital platform that is purpose built for artists
- Medallion enables musicians to host, distribute and sell their original content more seamlessly
- Through building a better experience for artists and fans, Medallion is hoping to redefine the way musicians can monetize their intellectual property
Going deeper:
- Medallion is built on the blockchain and users are able to log in through crypto wallet providers such as Rainbow, Coinbase or WalletConnect
- Medallion will soon allow musicians to sell digital collectibles and NFTs directly to their fans
By the numbers:
- Since inception Medallion has raised $22M USD in venture capital funding
