Founders Fund and Paradigm are leading an investment that aims to fuse music rights with NFT in a platform called Royal, which would allow users to buy shares of songs through the company’s marketplace.
The buyers would earn royalties as the music gains popularity.
EDM artist Justin Blau who performs under the name 3LAU, and JD Ross, a co-founder of home-buying startup Opendoor would lead the venture.
Blau is launching several upstart efforts aimed at exploring how musicians can monetize their work through crypto markets.
Blau dug into NFTs full-time as COVID cut off his ability to tour.
In March, Blau sold a batch of custom songs and custom artwork for a collective $11.7 million worth of cryptocurrency.
Royal’s announcement comes just investors dumped hundreds of millions of dollars worth of cryptocurrencies into community NFT projects like CryptoPunks and Bored Apes.
While platforms have to simplify the process of monetizing visual art, there have been fewer efforts focused on musicians.
Paradigm and Founders Fund is leading a $16 million seed round in Royal, with participation from Atomic — where Ross was recently a general partner. Ross’s fellow Opendoor co-founder Keith Rabois led the deal for Founders Fund.
The company will be leveraging Blau’s music and position inside the music industry to attract investors to the platform.


Why a ‘rip-off’ degree might be worth the money after all – research study
Disaster or digital spectacle? The dangers of using floods to create social media content
The American mass exodus to Canada amid Trump 2.0 has yet to materialize
Office design isn’t keeping up with post-COVID work styles - here’s what workers really want
Bitcoin Bounces Back: US-Iran Thaw Triggers $3K Recovery, Chart Targets $82K–$85K
Booked to travel through the Middle East? Here’s why you shouldn’t cancel your flight
Why financial hardship is more likely if you’re disabled or sick
FxWirePro- Major Crypto levels and bias summary
6 simple questions to tell if a ‘finfluencer’ is more flash than cash
How to support someone who is grieving: five research-backed strategies
Want to cut your energy bills? Here’s how five experts are doing it
Can your cat recognise you by scent? New study shows it’s likely
What’s the difference between baking powder and baking soda? It’s subtle, but significant
Bitcoin Cracks $75K as $1.3B ETF Exodus and Middle East Jitters Spook Bulls; Bears Eye $70K
The pandemic is still disrupting young people’s careers
The ghost of Robodebt – Federal Court rules billions of dollars in welfare debts must be recalculated 



