Dapper Labs Leads $5M-Plus Seed Funding Round for Music NFT Platform RCRDSHP

The platform is bringing electronic music-inspired NFTs and collectibles to the Flow blockchain.

Sep 16, 2021 at 12:00 p.m. UTC
Updated Sep 16, 2021 at 3:18 p.m. UTC

Eli is a news reporter for CoinDesk. He holds ETH, SOL and AVAX.

RCRDSHP, a digital collectibles platform for electronic music, closed a seed investment round that led by Dapper Labs and notable non-fungible token (NFT) collectors Metakovan and Twobadour, the company announced Thursday.

The platform raised over $5 million, a representative told CoinDesk.

The marketplace will run on Dapper Labs’ Flow blockchain, which is known for hosting the popular NBA Top Shot series of digital collectibles. In June, Dapper Labs CEO Roham Gharegozlou was among several people who invested in a $4 million seed round for NFT marketplace NFT Genius to get the music-themed marketplace onto the Flow blockchain.

RCRDSHP plans to release packs of collectibles that will “encapsulate a unique aspect of an artist, label or festival’s musical worlds” and prioritize affordability, the company said in a press release.

The latest pack released by RCRDSHP featured a combination of artist portraits and digital artwork. The 8,888 packs that were included in the release sold out in less than eight minutes.

The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Eli is a news reporter for CoinDesk. He holds ETH, SOL and AVAX.

Eli is a news reporter for CoinDesk. He holds ETH, SOL and AVAX.

Trending

1
Shopify Expands Crypto Payment Options With Crypto.com Pact

Shopify merchants also have access to Jack Mallers' Strike, Coinbase Commerce and BitPay.

Shopify merchants also have access to Jack Mallers' Strike, Coinbase Commerce and BitPay.

2
Binance.US Hires Ex-Uber Compliance Lead Krishna Juvvadi as Head of Legal

The hire echoes the efforts in Binance.US's parent firm to bolster its legal and compliance team.

The hire echoes the efforts in Binance.US's parent firm to bolster its legal and compliance team.

3
NYDFS Chief Says Regulators Need to Develop a ‘21st Century Framework’ for Crypto

NYDFS Superintendent Adrienne Harris says the regulatory agency will triple the size of its virtual currency unit by the end of the year.

NYDFS Superintendent Adrienne Harris says the regulatory agency will triple the size of its virtual currency unit by the end of the year.

4
Tether Cut Commercial Paper Reserve by 17% in Q1, Accountants Say

The reduction has continued with a further 20% cut since April 1, which will be reflected in the Q2 report, the stablecoin issuer said.

The reduction has continued with a further 20% cut since April 1, which will be reflected in the Q2 report, the stablecoin issuer said.