Muverse, a music NFT exchange and super-app, has raised $6 million in Seed Round funding from a consortium of investors, including Syndicate Capital, Knights Templar Capital, Zonff Partners, AvatarDAO and several angel investors.
Muverse is a platform that enables the free trade of global music NFTs, allowing music artists, investors, and fans around the world to participate in frictionless trade. The platform provides users with rich, gamified interaction, investment, and revenue scenarios, including a rhythm game combined with an earning mode, and an NFT exchange that provides liquidity to its users.
The funds raised in this Seed round will be used to expand the platform's features and services,
accelerate user acquisition, and enhance the user experience. The platform is developing its phase II products, which will include the Music NFT exchange, NFT fragmentation function and an AMM pool for its F-NFT / MCT trading.
Muverse's phase I product is a powerful rhythm game combined with an earning mode, allowing users to earn token revenue while playing the game. The combination of a rhythm game and earning mode will bring large numbers of game players and crypto investors to the Muverse app and help build a strong community that can drive the development of the Muverse ecosystem.
Muverse uses a dual-token model to meet the different needs of its users. The MCT token is the in-app utility token, and the MU is the platform token.
Muverse has a global team with employees in Los Angeles, Seoul, Singapore, Vietnam, Indonesia and the Philippines. The founding team has rich resources in Hollywood and Entertainment. Muverse has invited Sidney Ganis, former President of AMPAS (Oscar organizers) and former VP of Lucasfilm, Marvel, and Paramount, as its advisor. Muverse had also partnered with FNC Entertainment in Korea and successfully sold out K-pop star Lee Hong-ki's music NFT in an hour.
"We're thrilled to have the support of Syndicate Capital, Knights Templar Capital, Zonff Partners, AvatarDAO & Sun Artland Ltd who share our vision for creating a more efficient, frictionless, and highly liquid music NFT trading ecosystem," said Muverse COO Mark Rau. "With their backing, we're confident that we can continue to build a world-class platform that will empower musicians, investors, and fans around the world."
With this latest funding round, Muverse is poised to become a leading player in the fast-growing web3 music & NFT market.