First, play-to-earn and now... music-to-earn? Say hey to Cadenverse! They're a blockchain-powered decentralized music distribution and game publishing company. They've just raised a $4M seed to kick things off!

Who cashed in? Amanotes, Kyber Network, TomoChain, Hub Global, Sandbox Network, Meta Bora and Wemix also cashed in.

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🎶 The remix

Cadenverse is a Web3 subsidiary of Singapore's Amanotes, which hit over 2B downloads and over 120M monthly active users across their games in 2021.

• They're the world's #1 music game publisher and SEA's #1 mobile app publisher.

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🤯 Big picture

Cadenverese is a multiverse where players like you and I can freely go around different "universes" to create and play with music.

• The first universe will be Cadenverse's "Looper Band" game, which is in beta.

The Web3 spin. Have fun, play-to-earn and discover new music. If you're an artist, you can create-to-earn and get discovered.

• They'll have a Cadenverse Token for governance, staking and ownership.
• There will also be a Music Coin, an in-game utility token for play-to-earn, create-to-earn and payments.

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🎤 Power to the artists

The music industry isn't artist-first. It's centralized to a few publishers, and it's tough for artists (especially smaller indie artists) to get discovered and earn.

• Three major record labels produce two-thirds of all music consumed in America— meaning, major companies distribute the bulk of music we enjoy.
• You'll need 250 streams to make a dollar on Spotify.

Switching it up. On Cadenverse, artists can tokenize their songs as NFTs. "Game song NFTs" will record royalty payments to artists each time their song is used in one of their games.

• Alternatively, artists can sell their songs as "Collectible song NFTs" on Cadenverse's NFT marketplace.

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🙌🏼 What's next?

They'll be doubling down on product development and user acquisition and are looking to bring on 100 artists by the end of the year and onboard Amanotes' userbase.

• Their marketplace for Collectible song NFTs and their platform for Game song NFTs will both be up by the first half of 2023.