COINCU on : FanDuel Co-Founders’ New Music Format VAULT Announces $4 Million Fund-Raising Round

None Co-founders of the massive sports betting company FanDuel developed the digital music collectible (DMC) format known as VAULT, which has secured $4 million in a Series A fundraising round headed by Placeholder VC. None The funds will be used to advance the DMC format and quicken the creation of an open-source VAULT protocol.Following a ground-breaking six months, VAULT, the mobile-friendly Digital Music Collectible (DMC) format developed by the co-founders of sports betting industry leader FanDuel, said that it has secured $4 million in Series A investment, led by Placeholder VC.Bullpen Capital, Everblue Management, and AlleyCorp were other investors in the round. Singer-songwriter Naika and bands SUM SUN are two other artists preparing DMC-related content.Nigel Eccles and Rob Jones founded VAULTs DMC, a form of the non-fungible token (NFT) that provides verified digital box sets and one-of-a-kind experiences for music aficionados. An open, decentralized standard for acquiring, using, and distributing DMCs via third-party apps is what the VAULT protocol wants to be.From day one our focus has been on creating a new format that respects the relationship between musicians and their fans and allows them to interact and connect on a deeper level. By opening the VAULT protocol, we believe we can not only create a new revenue stream for music companies and artists alike, but we can do so by showcasing musicians art in a beautiful, collectible format, Eccles stated.The funding will accelerate the introduction of the VAULT protocol, an open and fully decentralized standard for buying, playing, and sharing DMCs on third-party apps, as well as further scale the companys DMC format, which offers music fans authenticated, instantly unlockable digital box sets and experiences from their favorite musicians.DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice.