San Francisco-based Sound, a new era of the world wide web (Web3) music platform provider, has raised $20 million in Series A funding. The round was led by a16z crypto, with participation from Palm Tree Crew, Scalar Capital, A Capital, Collab + Currency, Sound Ventures, Coop Records, Archetype, Crush Ventures, Coinbase and others. The funding will support Sound's expansion efforts and business reach following its public launch. Sound utilizes Ethereum and layer 2 scaling solution optimism to offer a Web3 platform that allows artists to mint songs as non-fungible tokens and sell them directly to fans. Artists on Sound can upload songs on-chain, maintain creative control over releases, set catalogue value, and establish direct relationships with their audience.
The platform ensures instant, accurate, and transparent payments for every song collected, with artists receiving 100 percent of earnings and retaining 100 percent of master and publishing rights. Sound empowers music listeners to curate and discover new music, while fans are rewarded for active participation and can access group chats with artists and other collectors.