⚡ New Funding For Web3 Builders, Sound.xyz's Mobile App Launch, and more!
Discover the latest and greatest Crypto & Web3 products
💡 Intro
Sound.xyz Launches 1st Web3 Music Mobile App: Yesterday, Sound launched their 1st mobile app which makes it easier to discover new music, play your favorite songs, create playlists, and browse your collections.
Sound is one of the top Web3 Music marketplaces and this a good step forward for the space in general.
At TFC, we’re constantly watching for product improvements over time. It’s a signal for different Web3 sectors moving forward (we remember when the first NFT marketplaces launched their mobile apps and we took note).
Why It Matters:
Web3 Music Needs Better Tech & Infra: As a sector, Web3 Music is still behind other crypto/web3 niches in adoption. Better tech, UX, and infrastructure will help increase adoption and make it easier to use & collect.
Mobile Adoption Is Needed For Web3 Music As a Space: The vast majority of music consumption today happens on mobile, not on desktop. Web3 Music platforms need to build onto mobile.
We know many of you are either founders/builders or want to create projects in Web3.
Because of that, we’re always on the lookout for new accelerators or funds that can help.
Yesterday: Sandeep Nailwal (cofounder of Polygon) launched a 500k fellowship for any builder who wants to create in Web3.
What You Should Know:
10 members will be accepted, each receiving 50k.
It’s open to all Web3 builders, regardless of age or geography.
Applications will be accepted starting now until early June.
The form itself is really easy and takes less than 10 minutes to fill out.
The bear market has slowed investment overall in new projects, so if you’re looking for funds to build with: checkout the link below!
Auradine / $81M — Scalability, sustainability, and security solutions provider Auradine has secured $81 million in a Series A funding round led by venture capital firms Celesta Capital and Mayfield. — Decrypt
Asymmetry Finance / $3M — Asymmetry Finance, a DeFi and liquid staking protocol, has raised $3 million in a seed funding round led by Ecco Capital, bringing its valuation to $20 million. — Decrypt
Cormint / $30M — Bitcoin mining startup Cormint has raised $30 million in a Series A funding round led by Cormint President Jamie McAvity and Silicon Laboratories (SLAB) Chairman Nav Sooch. — CoinDesk
River Financial / $35M — River, a Bitcoin technology and financial services company, has secured $35 million in a Series B funding round led by Kingsway Capital, with participation from billionaire investor Peter Thiel. — CoinDesk
Together / $20M — Together, a decentralized cloud for artificial intelligence, has raised $20 million in a seed funding round led by Lux Capital. Other participants include Factory, SV Angel, First Round Capital, Long Journey Ventures, A Capital, Robot Ventures, and more — TechCrunch
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Note: Do you have a product or tool you’re building? Have one you’d suggest? DM us on twitter! We’re always happy to feature products from the TFC community.
Anotherblock
"Investing in Music - Made Easy"
Type of Product: Web3 Music
Purpose of Tool: Anotherblock is a platform that enables music fans to invest in music by purchasing NFTs containing a share of streaming royalty rights from their favorite songs. It offers a unique opportunity to fractionalize and distribute streaming rights through the blockchain, allowing everyone to collect streaming royalties from digital service providers like Apple Music and Spotify.
A new Web3 Music platform that just raised $4M in funding yesterday.
Its use of NFTs as a way to distribute royalties to holders is super interesting.
With anotherblock, fans have the chance to own a piece of their favorite music for life and receive regular payments based on the streaming revenue. When you purchase an NFT, these are some features that will be included:
Real-world legal contract specifying the terms of the streaming royalties and guaranteeing real-world ownership for the NFT holder
Unique artwork created by NFT artists (for each drop)
Custom sound track (for each drop)
Access to a gated discord community of shareholders, as well as access to future events
Priority and instant allowlist for upcoming drops
Team / Funding / Backers / Other Info: Just yesterday on May 17th, Anotherblock has secured a €4 million funding round, which has been led by Stride.VC, a UK-based venture capital firm. The seed round has also seen participation from Axwell, a DJ and producer from Swedish House Mafia.
Launched in August 2022, Anotherblock has provided its users with streaming rights to popular songs by renowned artists such as Rihanna, The Weeknd, Martin Garrix, Alan Walker, Offset, and R3HAB.
Coincover
“Protecting cryptocurrency from hackers and human error"
Type of Product: Security / Insurance Provider
Purpose of Tool: Coincover is a service that guarantees digital funds will not be lost or stolen. It offers customers security features and insurance to make digital currency investments safe and secure.
This is the insurance provider that is powering Ledger’s new Recovery tool.
Along with Ledger, a Paris-based provider of crypto hardware wallets, Coincover is the team powering Ledger Recover, a seed phrase recovery service for the Ledger Nano X wallet.
Coincover provides the gold standard in digital asset security, offering encrypted and military-grade storage for retrieving the key if wallet access is lost.
Ledger Recover comprises extensive identity verification processes performed by Coincover within a secure environment built by Ledger.
As an extra layer of protection, Coincover offers up to $50,000 compensation in the unlikely event that something were to go wrong, subject to investigation.
Team / Funding / Backers / Other Info: Just today: On February 9, 2023, Coincover has managed to secure $30 million in funding thanks to Foundation Capital's leadership. Coincover was founded in 2018 and then officially launched in 2019. They've raised $41.6 million to date, following this recent funding. Prior investors include Volt Capital, Avon Ventures, DRW Venture Capital, SMT Digital, Valor Equity Partners, Element, Fintech Collective, and Susquehanna International Group.
Holder
“A new era requires new tools"
Type of Product: Web3 CRM
Purpose of Tool: Holder's Automation Builder enables marketers to access and leverage web2 and web3 data, without needing any coding skills. It provides a no-code suite to create personalized, automated customer journeys that can drive incremental revenue. This suite combines digital marketing sophistication with the ethos and culture of web3, giving marketers the power to build better customer relationships.
The triggers & automation tooling in their new update is worth noting, for any project builders.
It’s super easy to use and requires no coding.
This suite is different from traditional methods because it eliminates the need for a developer to access and use blockchain data. Instead, it puts the power directly in the hands of the marketer with an easy-to-use, no-code builder.
The Automation Builder's features enable marketers to choose from various automation triggers, like an NFT mint, a token sale, a form completion, or buying an NFT.
Filters can be added to personalize and segment audiences, allowing the right message to be sent to the right person at the right time.
Actions that can be taken include sending emails, text messages, internal alerts, wallet messages, adding tags and lists.
Team / Funding / Backers / Other Info: Drew Beechler, the co-founder and CEO of Holder, is an experienced marketing leader with a strong interest in web3, startups, and data-driven marketing. Prior to establishing Holder, Drew was responsible for building High Alpha's marketing organization, a venture studio that conceptualizes, launches, and increases B2B SaaS startups. Drew also co-founded over 30 B2B SaaS startups during his seven-year tenure at High Alpha.
Kleros
"The Justice Protocol.”
Type of Product: Dispute Resolution Protocol
Purpose of Tool: Kleros is a decentralized dispute resolution protocol that can be used to resolve questions ranging from simple to complex. It is implemented on the Ethereum blockchain network and acts as a decentralized third party to provide decisions based on a set of rules.
Kleros uses game-theoretic incentives to incentivize jurors to analyze and rule on cases correctly, making dispute resolution inexpensive, reliable, fast, and decentralized.
Kleros Court: An opt-in system wherein organizations can integrate Kleros into their smart contracts as an arbitrator. Parties have to choose the court related to their subject matter (e.g. Token Listing) and the number of jurors that will resolve future disputes.
Steps: When a dispute arises, the Kleros Court will carry out the following steps: randomly pick a selection of jurors for the case, allow all interested parties to submit their evidence, allow jurors to vote on the case, re-do the voting phase in the case of an appeal, and issue a final ruling.
Products and Services: Kleros also offers a suite of specialized products and services like Kleros Oracle, Escrow, Governor, and Curate, which can be used by organizations to resolve disputes relating to E-commerce, Insurance, Content moderation, Intellectual property, Token listings, DAO governance.
Proof of Humanity is an interesting product offered by Kleros is Proof of Humanity, a system where users submit a selfie, and a panel of jurors verify whether they're real humans.
Team / Funding / Backers / Other Info: In 2022, Kleros experienced a significant increase in committed partners. The number of partners more than tripled from 30 to over 110 throughout the year. These partnerships spanned across 20 different industries, such as DeFi, identity and credentials, marketplaces, real-world asset tokenization, wallets, and blockchain oracles.
RAMP Network | DEX | Link to product
Gitcoin | Community | Link to product
Superfluid | Banking | Link to product
AssetDash | Portfolio | Link to product
Cryptosteel Capsule | Crypto Safety | Link to product
Sygma | Technical Product Lead | Link to position
O(1) Labs | Senior Technical Product Manager - Mina Protocol | Link to position
Talisman | UI/UX Product Designer | Link to position
WalletConnect | Full-Stack Data Engineer | Link to position
Nethermind | Internship Program | Link to position
Bluesky | Web Developer | Link to position
Glassnode | CRM Manager | Link to position
MetaMask | Product Designer - Portfolio, Assets, and NFTs | Link to position
Obol Labs | Technical Customer Success Manager | Link to position
Status | Activist Copywriter | Link to position
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Disclaimer: None of this is to be deemed legal or financial advice of any kind. Always DYOR!