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

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.