FinTech news in 3LAU category

The team’s goal is to tap the blockchain to build a music creation suite that bakes in an open source ethos, allowing producers to sample a wide variety of songs and sounds while the platform ensures that credit always flows back to original creators appropriately. Arpeggi Labs, a new crypto startup focused on using blockchains to make music creation more collaborative, has scored $5.1 million in seed funding from Andreessen Horowitz crypto arm alongside a host of artists including names like Steve Aoki, 3LAU and Wyclef Jean. To make this dream happen, Arpeggi is aiming to go beyond developing a protocol and build an entire in-browser digital audio workstation that allows producers to mix blockchain-minted beats while integrating with the wider arena of Web 2.0 and web3 music platforms. While the company hasn’t landed on whether they’re looking to issue a token for the platform down the road, the founders say they are mainly focused on enticing music professionals who haven’t already aligned themselves with the web3 mantra but are excited about the idea of the industry doubling down on open source.