Web3 fan platform Medallion completes $13.7 million Series A funding, led by Dragonfly and Lightspeed Faction

2023-12-21 21:11:33
Collection

ChainCatcher news, the Web3 fan platform Medallion has announced the completion of a $13.7 million Series A funding round, co-led by Dragonfly and Lightspeed Faction. The platform provides an exclusive digital hub for artists to promote album releases, tour dates, and merchandise, while also selling digital collectibles and sharing exclusive content to deepen connections with fans.

The funds from this round will be used to introduce new early access opportunities, such as previewing unreleased music and offering presale tickets, as well as other member benefits like "video premieres or new updates." Artists will also be able to sell new exclusive and limited edition digital collectibles/NFTs, such as poster bundles and trading cards.

Recently, Medallion launched new revenue opportunities for artists in the UK, Australia, and Germany— "digital deluxe editions," allowing artists to sell digital albums that include embedded music players and downloadable audio, images, and videos. Artists can also sell physical merchandise through integration with Shopify.

Currently, 20 artists are using Medallion to operate their fan communities, including Jungle, Greta Van Fleet, Illenium, Disclosure, Tiga, Mt Joy, Tycho, My Morning Jacket, Girl in Red, and Sigur Rós.

The company plans to expand the platform to hundreds of artists by 2024, with widespread availability expected in 2025 or later. To date, Medallion has raised a total of $22 million in funding.

Related tags
ChainCatcher reminds readers to view blockchain rationally, enhance risk awareness, and be cautious of various virtual token issuances and speculations. All content on this site is solely market information or related party opinions, and does not constitute any form of investment advice. If you find sensitive information in the content, please click "Report", and we will handle it promptly.
Related tags
ChainCatcher Building the Web3 world with innovators