As the adoption of blockchain technology is advancing, the Metaverse is fast-becoming the virtual space for human existence. As a result, a lot of Startups are springing up to enhance gaming, music, and other activities in the Metaverse.
Stage11 is another blockchain-based music startup that seeks to “reimagine” music for the Metaverse. Recently, Stage11 secured a €5 million seed fund to further pioneer its agenda and increase the level of interaction that people have with music.
It does this by engaging the nexus of virtual realities, augmented realities, NFT, and the popular gaming economy. With this, the fans will have a close-to experience of real-time performances.
Otium Capital, a early-stage venture capital firm that is based in Paris, in alliance with other investors backed Stage11 in this round. Otium Capital is a veteran firm that claims to have backed more than 40 Startups.
Pierre-Edouard Stérin, the CEO and Founder of Otium Capital, made the following comments regarding the seed round and why they backed Stage11:
“The founders of Stage 11 are experts in their respective fields (Music, Fashion, Luxury, Lifestyle). This track record has enabled them to build a high-quality team between Europe and Silicon Valley in record time.”
With this fund, Stage11 plans to ink new partnerships, sign new artists, and hire more people into its team. According to the available information on its website, the Startup is in talks with Snoop Dog.
“We are on a journey together to reimagine the way artists and brands connect, even co-create, with their fans and audiences. We are combining genres, realities and cultures to build something bold, thrilling and timeless — yet accessible and fun,” says Jonathan Belolo, the CEO and Founder of Stage11.
Read also: DeHorizon Secures $8.5 Million Pre-A Round.