Music Startup Raises $5.5. Million in New Funding utilizing the Block Chain.
Decentralized music-sharing protocol Audius has raised $5.5 million in a Series A funding round.
The move was led by General Catalyst and Lightspeed Capital.
The project seeks to use a blockchain platform to help artists control the music they share, according to a press release.
While a release date is not yet clear, the musician-owned platform would allow artists to publish their work and interact with fans, as platforms like SoundCloud operate today. Audius would provide artists with more control over their intellectual property than existing systems do today, the release claims.