NFT Music Startup Sound.xyz Raises $5M From A16z, 21 Savage

Posted on by American Coins & Gold

NFT Music Startup Sound.xyz Raises M From A16z, 21 Savage
A buzzy new music startup called Sound.xyz has raised a $5 million seed round, with contributions from Andreessen Horowitz (a16z), Variant Fund, Li Jin’s Atelier Ventures, a handful of crypto angels and artists like Holly Herndon, 21 Savage and DJ Drama.Sound’s pitch has to do with helping musicians make a living via crypto – specifically, a set of NFTs tied to new releases.“There’s only 7,800 artists that make over $100,000 or more per year [on Spotify],” said Sound co-founder David Greenstein, who built the company in relative secrecy over the course of the past year. “The number for $50,000 or…