NFT Music Platform Royal Closes $55M Funding Round Led by A16z

Electronic music performers The Chainsmokers and the rapper Nas also provided funding, which comes less than three months after the Justin “3LAU” Blau venture closed a $16 million round.

AccessTimeIconNov 23, 2021 at 2:00 p.m. UTC
Updated May 11, 2023 at 5:47 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Royal, the music tokenization platform launched by DJ and entrepreneur Justin “3LAU” Blau, closed a $55 million Series A funding round on Monday, CoinDesk confirmed.

  • Andreessen Horowitz (a16z) led the round, which also included participation by Coinbase Ventures, Paradigm and the performers, The Chainsmokers and Nas.
  • “In addition to their audacious vision, what makes this founding team so unique is 3LAU’s firsthand experience as a musician paired with JD’s exceptional track record as a repeat founder and startup operator,” a16z General Partner Katie Haun wrote in a blog post.
  • The funding comes less than three months after Royal raised a $16 million seed round. Paradigm and Founders Fund each invested $7 million in this earlier funding, securing board seats for their respective general partners, Fred Ehrsam and Keith Rabois.
  • Royal slices up song royalty rights into crypto tokens that anyone can buy and trade.
  • a16z Crypto CTO on ZK Projects ‘Jolt’ and ‘Lasso,’ State of Crypto Tech Research
    12:55
    a16z Crypto CTO on ZK Projects ‘Jolt’ and ‘Lasso,’ State of Crypto Tech Research
  • Eco App CEO on Launching 'Cash-Like' Crypto Wallet 'Beam'
    06:18
    Eco App CEO on Launching 'Cash-Like' Crypto Wallet 'Beam'
  • Venture Capital Firm a16z Unloads $7M of MKR Tokens as Price Soars
    03:46
    Venture Capital Firm a16z Unloads $7M of MKR Tokens as Price Soars
  • A16z Chooses London as Destination for First Office Outside U.S.
    06:16
    A16z Chooses London as Destination for First Office Outside U.S.
  • Disclosure

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

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    James Rubin

    James Rubin was CoinDesk's U.S. news editor based on the West Coast.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.