Baton raises $4.2m for its platform to share unreleased music
Summary
US startup Baton describes itself as a collaboration platform for unreleased creative material focusing on music artists.Now it has raised a $4.2m funding round to continue building its platform, which launched in private beta in 2022. Its a service for artists to upload their unreleased music to share and collaborate with their peers.There are 100,000 songs released to streaming services every day, but most material is unreleased. We believe theres tremendous untapped potential here, said CEO Gabe Warshaw as the funding was announced.Bitkraft Ventures led the round, with Techstars, Dorm Room Fund, NYUs Innovation Venture Fund, the Berkley Center for Entrepreneurship, Dark Arts, Franklin Templeton and Harmonic Future among the other investors.Baton is the latest web3 music startup to raise funding, with its future plans including a blockchain-enabled collaboration protocol to help artists not just collaborate, but track contributions and automate payouts to the people they work with.