Paradigm and Founders Fund lead $16 million investment in 3LAU's NFT music platform Royal
August 26, 2021, 9:00AM EDT
1 min read
Royal, a non-fungible token (NFT) investment platform focused on music, has announced a $16 million seed-stage fundraise.
Founded by electronic dance music artist and NFT proponent 3LAU (real name Justin Blau), Royal gives fans the chance to ‘co-own’ music in the form of a digital asset — and potentially a way to earn royalties alongside artists.
Paradigm and Founders Fund are leading the $16 million seed-stage investment in Blau’s latest project, with participation from Atomic and strategic partners comprised of musicians, crypto professionals and technologists.
“Culture and investing are bleeding together, and crypto is where that’s happening fastest. Justin and JD [JD Ross, Royal’s other co-founder] both live in that intersection,” said Fred Ehrsam, co-founder and managing partner of Paradigm, in a statement. “Royal is the future we are headed to: creators go direct to fans and fans share in the success of creators.”
An early adopter of NFT technology, Blau sold a tokenized album in March of this year for a whopping $11.7 million. He is also a former co-founder of the real estate platform Opendoor and formerly a general partner at the investment firm Atomic.
Blau, CEO and co-founder of Royal, said that Royal aims to change the status quo by turning music “into an asset and creating an incentive for fans to be aligned financially and emotionally with their favorite artists.”
LMAX Group robust technology and familiar institutional grade trading infrastructure (currently processing over 2 billion orders per day in the global FX market) is the solid backbone of LMAX Digital, delivering access to deep institutional liquidity, transparent price discovery, a regulated trading environment and a full custodian trading solution.
The Block Research was commissioned by Algorand to create Layer-1 Platforms: A Framework for comparison, which provides a “look under the hood” at seven platforms: Algorand, Avalanche, Binance Smart Chain, Cosmos, Ethereum/Ethereum 2.0, Polkadot, and Solana.
We assess their technical design, related ecosystem data, and qualitative factors such as key ecosystem members to get an understanding of how they differ. Having done this analysis, we draw some insights for what the future of the broader smart contract landscape could look like for years to come.