Music-focused NFT platform Pianity raising $6.5 million in a seed funding round. Pianity has developed a marketplace that allows musicians to sell their tracks as limited edition NFTs.  Since its launch last year, the company says it has already sold 11,000 NFTs and artists have earned over $1.1 million from NFT sales. Kevin Primicerio, co-founder and CEO of Pianity, joins Cheddar News' Closing Bell to discuss.

Closing Bell

Pianity Raises $6.5 Million in Seed-Round Funding to Create  the Next Generation of Music Platforms That Leverages NFTs

music Focus NFC platform, P an ITty raising 6.5 million in a seed round the company has developed a marketplace that allows musicians to sell their tracks as limited edition N. F. T. S. And since its launch last year, the company says it's already sold 11,000 N. F. T. S. And artists have collectively earned over 1.9 million from these N. F. T. Sales. Well, joining me now is the co founder and Ceo of Piano di kevin. Premier Premier Sirio kevin, thank you for joining. We appreciate coming on the show. Congratulations. Give me some more details about what your company offers to both artists and fans. Hello and thank you so much for having me. Um so yeah, did you know that 97% of the artists on Spotify on less than $1,000 per year and it's really something we are trying to solve at Kennedy and actually artists and Kennedy between 100 and 1000 times more money than they would do on a normal stream platforms. So that's the main mission of Kennedy's allowing artists to make a living from what they what they do and what they like to do, which is music. How do users engage with it? Um, kevin, do they go on your api entity to access these N. F. T. S or is there a different method? Yes. So for now it's a it's a marketplace, so you can go on on the website, which is the community dot com and you buy N. F. T. S. I. As you would by um you know, like normal marginalizing on any other marketplace. So we made the process really easy. You can use even credit card, you don't have to own crypto in order to buy your first N. F. T. S engagement with your fans. And then with the N. F. T. One of the missions of Kennedy's that well as well to help um, funds connect with the artist. Um and one way for them to connect is, you know, when they buy the N. F. T, the N. F. T becomes a membership card to access the the artist community and they can therefore be included, for example, in a private chat with the artist or they can be invited to exclusive events or to have access to a new music before everyone else. Um look, this space could not be hotter right now. N. F. T. S. Digital music, Digital art, you name it kevin, who are some of the biggest artists that you work with. And describe your user base to me. Is it based here in the US or is it more of an international user base? Yeah. We started with electronic music. So my co founder, Simon is a music producer and in electronic music. So we started from that niche. Um and we are going to expand to other genres such as hip hop and and other john we also started jazz And regarding the the user base we have, we are re international like nine 90. So we are based in France, but 90% of the of the traffic comes from everywhere else. We have a lot of people actually in the us. We have a lot of people in South America and in Asia as well. Um, we got to leave it there kevin, but this is really cool stuff. I hope you'll come back on the show with a fresh round of funding in a seed round. That's Kevin, premium stereo, Ceo and co founder of Piano Date.