Topics
Latest
AI
Amazon
Image Credits:Medallion
Apps
Biotech & Health
Climate
Image Credits:Medallion
Cloud Computing
Commerce Department
Crypto
Image Credits:Medallion
Enterprise
EVs
Fintech
fund raise
Gadgets
Gaming
Government & Policy
Hardware
Layoffs
Media & Entertainment
Meta
Microsoft
Privacy
Robotics
security system
societal
Space
startup
TikTok
Transportation
Venture
More from TechCrunch
Events
Startup Battlefield
StrictlyVC
Podcasts
video recording
Partner Content
TechCrunch Brand Studio
Crunchboard
Contact Us
Medallionis a platform for artist to have a dedicated digital hub for promote record album releases , tour of duty dates and merch drops , as well as selling digital collectible and share single content to foster deeper connections with fan . The society announced today that it closed $ 13.7 million in Series A financing , co - led by Dragonfly and Lightspeed Faction .
Musicians are increasingly search for direct ownership in their own communities and avoiding third - party platforms where interactions with fans are complex to pull off . From a sports fan perspective , although there are plenty of ways to watch over and unite with artists , these online interactions can be minimal .
“ While streaming has opened up access to euphony and social sensitive and produce new channels for direct distribution , the full potential of verbatim creative person - to - fan connections has not been actualise , ” Matt Jones , co - founder and CEO of Medallion say . “ Medallion ’s artist - centrical approaching and emphasis on digitally native fan experience is helping usher in a new , transformative time period for artist . ”
With this impressive chunk of cash in towage , Medallion wants to address what many artists believe to be a major interruption in the medicine manufacture : lack of control regarding the online kinship with devotee and an unfitness to instantly link . It design to utilize the new capital to introduce new former admittance opportunities like listening to prereleased euphony and offering presale ticket , among other member benefits like “ video premieres or raw updates , ” the company explained . Artists will soon also be able to sell new sole and limited - version digital collectable / NFTs like post horse bundles and trading lineup .
Medallion recently introduced a new revenue chance for creative person in the U.K. , Australia and Germany — “ Digital Deluxe , ” which allow artists to sell a digital reading of a music album with an embedded music musician and downloadable audio recording , imagery and telecasting . artist can also sell forcible items through an integrating with Shopify .
laurel wreath is free for artist to use but takes a percentage of all sales on the political program , yet did n’t divulge how much . It is built on the blockchain , and exploiter can sign on in with e-mail or a pocketbook supplier — Rainbow , Coinbase and WalletConnect .
Additionally , Medallion is a blanched - label platform , meaning artist can tailor-make their digital place with their own colour theme , screen background and more . When fan typeset up an report , they claim a unique digital collectable or membership card of sorts predict a “ Medallion ” that grants them free memory access to the residential district . For instance , Greta Van Fleet ’s symbolic representation is a spinning , 3D golden tintinnabulation .
Join us at TechCrunch Sessions: AI
Exhibit at TechCrunch Sessions: AI
There are currently 20 artists using Medallion to power their lover communities , includingJungle , Greta Van Fleet , Illenium , Disclosure , Tiga , Mt. Joy , Tycho , My Morning Jacket , Girl in Red , andSigur Rós , among others
“ We have been partnering very close with a small bit of prize creative person to help oneself test and refine our inwardness intersection sport over the past twelvemonth . Even though the platform is n’t opened to every artist yet , we ’re continue to invest in our engineering and platform so that we can finally descale across the industriousness . At this time , we mainly work with independent - given artist who are among the top 10,000 artist on streaming platforms and have a highly engaged fanbase , ” Jones said .
The company plans to inflate the platform availability to a few hundred more artist in 2024 . It wo n’t be widely usable until 2025 or later .
medal is lead by Jones , Mark McIntyre ( CTO ) , Josephine Yu ( CPO ) , Jesse Bellin ( VP of Operations ) , Adam Ray ( CFO and ecumenical counselor-at-law ) , Ash Pampati ( VP of GTM ) and Tom Milway ( VP of Design ) who are all veteran across the tech , e - commerce and music industries , with experience at Songkick , Instagram , YouTube , Spotify , Grailed , Warner Music Group and hot Nation .
Other investor in the round include Coinbase Ventures , Infinite Capital , J17 , The Chernin Group , Third Prime and Zeal Capital , alongside music industry investors Bill Silva Entertainment , Black Squirrel , Foundations Artist Management , Method and TAG Music . Medallion is also backed by top artist Jungle , Mt. Joy , Guy Lawrence ( Disclosure ) and Tiga .
The party has arouse $ 22 million to date .
“ artist are starting to translate they are not just content Lord but brands themselves , and as a effect are ramp up multimodal businesses that go beyond but music and content , ” Rob Hadick , universal partner at Dragonfly , say in a statement .
