Dequency, a Los Angeles, CA-based Web3 music synchronization licensing marketplace provider, raised $4.5M in funding.
The round was led by Borderless Capital with participation from strategic institutional partners Endeavor and Riptide Music Group, and individual investors Steve Kokinos (CEO Algorand), Vinny Lingham (Co-founder & former CEO Civic), Lyndon Rive (Co-founder & CEO Solar City), Peter Rive (Co-founder & CTO Solar City), Kimbal Musk (Founder Big Green DAO, board member SpaceX & Tesla), and Tosca Musk (Founder & CEO Passionflix).
The company intends to use the funds to build out the peer-to-peer function, enabling music creators to upload their work to the platform and directly license for use in visual art projects.
Founded in early 2021 by music industry veterans Keatly Haldeman, George Howard and Mark Ross, Dequency is building a decentralized music licensing marketplace for music and visual creators to connect, collaborate, and transact directly with one another. Analogous to Bitcoin’s trustless digital payments, Dequency eliminates third parties from music licensing transactions to increase speed of payment, reduce fees, and give control of the system to market participants.
Currently in development, Dequency is building on the Algorand blockchain.
FinSMEs
22/02/2022