April 13, 2024

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Unlimited Technology

NFT Music Rights Startup Royal Receives $55 Million In Funding

The NFT music rights startup Royal has received another round of funding, raking in $55 million from venture capital piggybank Andreessen Horowitz.

That infusion is on top of the $16 million in seed money it received from Founders Fund and Paradigm three months ago.

As reported by TechCrunch, Royal will work with musicians to allow users to buy non-fungible tokens that represent collective ownership in an artist’s work, opening the possibility of earning royalties from the song. 

Artists can also sell “fan experiences,” which likely means meet-and-greets and concert tickets.

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