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.


Want to cut your energy bills? Here’s how five experts are doing it
Bitcoin Pares Gains on US-Iran Tensions; Mixed EMA Setup Puts $74K Support on Watch
Why have so few atrocities ever been recognised as genocide?
Heritage, desire and diplomacy: why China still values scotch whisky
Booked to travel through the Middle East? Here’s why you shouldn’t cancel your flight
FxWirePro- Major Crypto levels and bias summary
Every generation thinks they had it the toughest, but for Gen Z, they’re probably right
The pandemic is still disrupting young people’s careers
$2,000 or Bust: Ethereum Bounces Off the Brink, But Bearish EMAs Demand Proof Above $2,500
Ether Breaks Below $2,100: Triple EMA “Sell-the-Rally” Setup Targets $1,900
FxWirePro- Major Crypto levels and bias summary
Disaster or digital spectacle? The dangers of using floods to create social media content 



