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Bolero, a Parisian music royalty market startup, has secured a €2 million seed round led by Dubai-based XVC Tech focused on Web3 startups.
In addition to XVC Tech, the round also includes French DJ and music producer Petit Biscuit, Belgium’s Le Motif, Webedia’s Thierry Boyer, The Sandbox’s Sébastien Borget, serial entrepreneur Frédéric Montagnon, CEO and CEO of JoinKlub and Ki Foundation. It attracted participation from existing Newfund and angel investors, including the founders. Leda Berehiri and additional undisclosed parties.
Similar to what Stockholm’s Anotherblock and MasterExchange are working on, Bolero is working on a decentralized music rights investment infrastructure, essentially offering fans and investors an opportunity to invest in music rights and receive future copyright royalties. We offer you the opportunity to receive a suitable portion of.
In contrast to traditional monetization methods that artists rely on, royalty monetization allows creators, whether they are artists, producers, or composers, to receive a fraction of their future revenue potential through royalties. By doing so, you can take advantage of monetization, although it may or may not work. Instant liquidity line.
Founded in early 2021, Bolero says it has agreements with more than 60 rights holders, well over 10,000 registered customers, and an average purchase price of $250 per transaction.
Earlier this year, Bolero announced a collaboration with Belgian producer Le Motif, who is now an investor, adding over 400 songs from LEMOTIF LTD’s catalogue. His body of work includes at least 15 diamond records, 13 platinum and double platinum records. 25 gold records.
The editorial rights to this catalog are gradually being released and include 150 works by artists such as JuL, Wizkid, Cerrone, Headie One, Tiakola, Gazo, Morad and ElGrandeToto.
As part of the investment round, the company now says it wants to go beyond individual investments and specifically target retail investors, financial professionals and exchange platforms.
Bolero co-founder and CEO William Bailey elaborates:
“This capital increase is a major step in the development of Bolero as we celebrate our third anniversary.
“In addition to funding that can accelerate research and development and model deployment, we welcome high-profile investors who represent the wealth of expertise we have brought together to build a future that benefits creators and continues. A possible and fair income.”
To date, Bolero has raised $3.4 million.
Lead image via Bolero.
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