Web3 music firm Sound has raised $20 million in Series A funding.
"The funds will give us resources to grow our team and further our mission to make Sound the home of music discovery on the web and mobile," the firm's co-founder David Greenstein told The Block.
Sound is not currently disclosing its valuation, the co-founder added.
Web3 minting tools
In addition to announcing the fresh funding, Sound opened up its web3 minting tools.
"Previously, it was only accessible to a limited group of artists during the test period," Greenstein said. "Today, these tools will be available to all artists on Sound."
Sound allows artists to mint and sell music as NFTs. The platform is built on the Ethereum blockchain and deploys the ERC-721A token standard.
Sound also added Optimism support on June 12 to decrease gas fees and accelerate transaction times. Users can buy music with ETH or a credit card.
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