DJ 3LAU Establishes NFT Music Investment Platform Royal by Obtaining $16M in Seed Funding

American DJ and electronic dance music producer Justin Blau, also known as 3LAU, established the blockchain music investment company Royal, supported by a $16 million seed round led by cryptocurrency investment company Paradigm and Peter Thiel‘s Founders Fund.

The Royal blockchain music NFT investment platform was founded by 3LAU and his university friend JD Ross. It aims to provide music-loving users and creators with unique ownership tokenized investment platforms while allowing music copyrights and autographed digital asset records on a specific blockchain.

Blau stated that the launch of the music investment platform Royal is to provide fans with an opportunity to make money with their favourite artists said:

“I always tell people that artists’ popularity is completely dependent on the fans and the listeners, not the companies and the distributors. If the fans like the music, they share it, they go to the shows, they’re fully responsible for augmenting an artist’s popularity. So why shouldn’t those participants achieve upside for believing in someone early?”

According to the Forbes report, the team does not determine which blockchain platform will become the basis of the Royal platform yet but stated that it would launch a beta version of the platform in the next six months and aim to promote it within eight months. The project would be completely “community-run”, the team added.

Through the new Royal project, Blau and his team hope to introduce tokenized ownership in the main recording rights of songs and provide collectors with concert tickets and backstage passes through so-called “limited digital assets” (Royal’s version), Special privileges including commodities, non-fungible tokens (NFT).

The non-fungible token (NFT) method has changed the creator’s rules of creation. In the future, the music can be directly faced by the audience without intermediaries and labels.

Although Blau believes that the Royal platform can potentially influence the entire record industry, he said that in the future, he would not rule out the possibility of cooperating with record companies such as Sony and Universals.

Image source: 3lau


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Nifty News: Earn NFTs watching TV, DAO pays $1M for Aoki and 3LAU track … and more

Blockchain-based streaming service Sator has developed a decentralized app that will enable users to earn NFTs, tokens and “other rewards” by watching TV and playing games.

While details are sparse on the exact amount of rewards users can receive, according to the website, NFTs awarded will be directly tied to amount of shows watched, and time spent engaging with puzzles and TV trivia on the app.

Sator CEO Isla Perfito said the firm has created: “An easy and powerful solution for TV producers to turnkey deliver a unique NFT experience of their shows while viewers are tuned in.”

He added that, “NFTs will bring lots of activity to the platform, a fantastic jumping off point for a user looking to dive in to blockchain technology.” 

While it hasn’t been revealed what TV show rights the app is planning to acquire, the company did announced that it recently closed a $2 million seed round which included investment from Faculty Capital, Genesis Block Ventures, Digital Strategies and PetRock Capital.

Jenny from the blockchain

The Jenny DAO has paid $1 million for a one off NFT track produced by DJ’s Steve Aoki and 3LAU.

The one-of-one NFT is a tokenized song named “Jenny” and was commissioned to celebrate the recent launch of the Jenny Metaverse DAO, or Decentralized Autonomous Organization, on Unicly. The NFT contains an unreleased track by Aoki and 3LAU, and is accompanied by visual art from Pieter Hergert.

The NFT was minted on OpenSea by 3LAU, also known as Justin Blau, and then transferred to vault controlled by a smart contract on the Unicly Protocol which enables users to combine, fractionalize and trade their NFT collections.

The metaverse DAO recently pulled together $7 million to fund NFT acquisition for shared ownership between its governance token holders — with the Aoki and 3LAU NFT being the first choice for its collection after the community voted for it earlier this month.

The organization paif Aoki and 3LAU $499,000 each to produce the track, with the transactions conducted outside of OpenSea to avoid fees.

The NFT is likely to be locked up for some time. According to Jenny, the NFTs stored in the Unicly vault can “only be released if consenting Jenny Token holders reach a certain threshold and instruct the smart contract to unlock the vault.”

Comedian Steve Harvey’s NFTs are no joke

While many celebrities have flocked to NFTs in hope of making a quick buck, comedian Steve Havery appears to have entered the game for more selfless-purposes.

The comedian dropped a series of NFTs via Rarible on May 14 to raise funds for his non-profit “Steve and Marjorie Harvey Foundation” that provides outreach services for the disadvantaged youth.

The series includes an open edition with 112 minted tokens depicting a GIF from Harvey’s stand up comedy, and a limited edition of three minted tokens depicting an autograph portrait, and a one-of-one edition. The one-of-one is a tokenized GIF that depicts Harvey’s confused reaction to hearing about NFTs for the first time on his TV, and is on auction until May 21.

Harvey NFTs – Rarible

Bidding has been slow however, the auction started three days ago and the current highest bid is 2.2 Wrapped ETH, or WETH, worth around $6,770.

WAX announces more partnerships for NFT drops

Decentralized entertainment network WAX has announced more partnerships with entertainment brands to release licensed NFTs.

The new partnerships include cult-favorite anime franchise Robotech from Funimation and Harmony Gold, the movie Five Nights at Freddy’s from ScottGames, the Bears vs Babies card game from Exploding Kittens and The Princess Bride movie from Act III.

The new partnerships add to an already impressive list of partners such as Major League Baseball, Capcom, Atari, Reebok and DeadMau5.

In June this year, the cult-favorite collectibles creator Funko Pops partnered up with WAX to drop packs tokenized Funk Pop collectibles.


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Celebrity VC fund unveils $1m NFT contest judged by Snoop Dogg and Mark Cuban

Sound Ventures, a venture capital fund comprising celebrities, musicians, and a billionaire, are offering at least $1 million for the “most innovative” idea for a nonfungible token, or NFT over the next week.

Announced on April 5, the event invites anyone from around the world to pitch their NFT project to a team of eight judges before April 12. According to the competition page, it doesn’t matter if the pitches are little more than an idea or a fully-fledged product already on the market. The wording also suggests the contest’s winners will have the opportunity to work alongside Sound Ventures long-term.

“Those applying should be interested in building a company over the long-term,” the announcement says.

Up to 30 finalists will be selected to partake in a private live pitch with the judges on April 21, just over two weeks from now.

Those selected are not required to accept the investment and there are no set terms for how the for how investment will be distributed. The contest’s FAQ states: “Investment amounts and terms will vary by company.” 

It is not clear how many pitches will be selected from the 30 finalists, but the competition page suggests the investments across those selected could total more than $1 million.

Sound Ventures’ co-founders, Ashton Kutcher and Guy Oseary, will sit on the judging panel with the remaining six judges including NBA Dallas Mavericks owner and billionaire Mark Cuban, rapper Snoop Dogg, EDM artist 3LAU, NFT investo Whale Shark and Metakovan, and Scalar Capital co-founder Lina Xie.

$1 million Sound Ventures Competition Judges: Sound Ventures

Whale Shark and Metakovan, although not well known as some of the other judges, are some of the most respected in the NFT space. The Whale Shark recently tokenized a vault containing their NFT collection, allowing investors to buy into it. It currently has a market cap of almost $23 million. Metakovan, or Vignesh Sundaresan, is the winner of Beeple’s $69 million Christie’s auction last month, and a prominent NFT collector.

The contest was set up by Sound Ventures’ co-founders, famous Actor Ashton Kutcher and talent manager Guy Oseary. Oseary clients include U2 and long-time business partner Madonna. The pair also run VC firm A-Grade Investments, which has a history of supporting successful projects such as Airbnb, Foursquare, Shazam, SoundCloud, Spotify, and Uber.

Ashton Kutcher has already made a questionable name for himself in the NFT sector auctioning a digital copy of a notebook scribble in August 2020. The original drawing was destroyed to showcase the advantages of digital over physical artworks, with the funds raised said to go towards for ecological conservation non-profits.

Ashton Kutcher showcases his now-incinerated artwork

The artwork titled “The Eye of The Beholder” was sold for 20 ETH (currently worth $42,600) in the auction.