Serenade

NFT marketplace Serenade announces $6m fundraise and expansion plans following breakthrough first six months

Eco-friendly music NFT specialists extend global reach, refresh platform design and further grow industry partnerships

London & Sydney, 18th May 2022 Serenade, the eco-friendly music NFT marketplace whose mission is to support artists by creating new revenue streams from unique fan experiences, has announced significant new investment and plans to expand its global operations following a breakthrough first six months.

The company has revealed a new $6m (Aus) fundraise that will further fund and help grow its artist and partner roster across the UK and Australia, as well as in the US, where the company will be entering the market and launching a dedicated office.

The company has been supported by several high-profile music industry investors, including senior management figures from Atlantic Records UK, Secret Sounds, Future Classic, UNIFIED Music Group and Warner Music Group, as well as Hollywood actor Hugh Jackman. The group has also been joined by Matt Gudinski and Johann Poniah of Mushroom Group and former Powderfinger frontman Bernard Fanning.

Serenade will also be undertaking both a visual brand refresh and improvement to its underlying NFT marketplace technology. The new marketplace, Serenade 2.0, will offer artists unique smart contracts and the ability to split and update royalties amongst multiple beneficiaries, whilst fans will have an improved visual and user experience, including the option to transfer their NFTs outside of the Serenade platform and seamlessly trade on third party marketplaces like OpenSea.

In February Serenade also delivered a major industry first when it partnered with the Brit Awards for the event’s first ever NFT collection. The Adele X Artist Of The Year Award NFT sold out within 30 minutes of launch.

Since its launch in Autumn 2021, the company has worked with over 15 artists, ranging from emerging independents to household names including Young M.A, The Kooks, Jungle, Super Furry Animals, Frank Carter & The Rattlesnakes and Gary Powell from The Libertines.

During the past week Serenade has released NFT collections with emerging Australian and UK acts Confidence Man, Kota Banks, Juice Menace, Dead Pony and Shivum Sharma, unlocking the value of direct to fan revenues for artists of all career stages who want to super serve their greatest fans.

Max Shand, Founder, Serenade said:

“We’ve been thrilled with the platform’s development since launching six months ago, and this progress is testament to the incredible work of both our team and the investors who’ve backed us. We know there is huge demand for accessible, eco-friendly NFTs – and we look forward to further growth, developing the US and other markets and launching version 2.0 of the platform in the coming weeks and months. What a time to come.”

 

ENDS –

 

 

NOTES TO EDITORS

ABOUT SERENADE

Serenade is a ground-breaking new artist/fan-centric music platform, which aims to break down the barriers to entry surrounding Non-Fungible Tokens (NFTs) and make them easily accessible and affordable for artists and their fans.

Launched by Australian tech entrepreneur Max Shand, the eco-friendly music-based platform produces 1/44,000th of the carbon emitted by a standard NFT (or 1/10th of the energy usage of a Tweet) through an energy efficient NFT authentication method called ‘Proof of Stake,’ a counterpoint to the standard Ethereum ‘Proof of Work’ method.

Purchases are made using a Debit/Credit card via Serenade’s check out facility, designed to function as a standard ecommerce site, with the platform handling the creation of a digital wallet and transfer of traditional payments into crypto currency.

Serenade launched in September 2021 with music-related digital collectibles that included unreleased tracks, limited edition artwork and VIP ticketing and experiences.

Serenade’s Environmental Credentials Explained 

A Serenade NFT requires just 1/10th of the carbon of a tweet, equating to 1/44,000th of the footprint of a normal NFT. Serenade achieves this through an energy-efficient NFT authentication method called ‘Proof of Stake,’ a counterpoint to the standard Ethereum ‘Proof of Work’ method.

This marked improvement is a result of the Serenade platform being built on top of a layer two blockchain called Polygon. Polygon has a trusted relationship with Ethereum, which means it doesn’t have to go through the exhaustive process of proving every NFT transaction to the blockchain, but rather achieves this via collective proofs.

Not only does this lead to far better ecological outcomes, but it lowers the cost of creating NFTs so artists can be free to produce more work for their fanbases without bearing any gas fees.

Not sure what an NFT is? An NFT is essentially the same as a physical limited-edition merch item, like vinyl or an artwork, only a digital file. The owner holds the copy of the digital file but not the copyright within it, as they would with a physical item, and they can sell their item at any time to another fan.

Serenade is already providing unforgettable moments for music fans across the country. Head over to serenade.co to see how.

Serenade

Serenade is a ground-breaking new artist/fan-centric music platform, which aims to break down the barriers to entry surrounding Non-Fungible Tokens (NFTs) and make them easily accessible and affordable for artists and their fans.