Web3 Music Streaming Platform Wavlake Completes Seed Round Financing With Trammell Venture Partners as Lead Investor

02/22/2023 10:28 • Blockchain Buzz • 151 views

It is reported that the Web3 music streaming media platform Wavlake has announced that it has completed the seed round financing, and Trammell Venture Partners has led the investment, but the specific amount has not been disclosed yet. Wavlake was co-founded by musician and producer Michael Rhee and Sam Means. Through the use of blockchain and Web3 tools, Wavlake helps artists use the lightning network to accept Bitcoin payments, and then provides a new music streaming service. However, the company said that it will not issue any special tokens at this stage, but will build a more fair platform for artists and fans. （builtinchicago）

Web3 music streaming media platform Wavlake completes seed round financing

Interpret the above information:

Wavlake, a Web3 music streaming media platform, has recently announced that it has completed its seed round financing with Trammell Venture Partners leading the investment. Although the amount of investment has not been disclosed yet, this announcement signifies Wavlake’s potential to revolutionize the music industry through the use of blockchain and Web3 tools.

Wavlake was co-founded by musician and producer Michael Rhee and Sam Means, who have recognized the need for a fairer platform for artists and fans in the music industry. With Wavlake, artists can use the lightning network to accept Bitcoin payments and provide a new music streaming service that allows them to earn more from their creations.

What makes Wavlake different from other music streaming platforms is its use of blockchain technology. Blockchain facilitates the distribution of music directly from the artist to the listener without intermediaries, which can result in a more equitable payment system for artists. By incorporating Web3 tools, Wavlake can create an entire music ecosystem on blockchain-based technology, where both the artist and the listener can benefit.

Wavlake has also stated that it will not issue any special tokens at this stage. Instead, the platform aims to create a fairer platform that supports the well-being of artists and their fans. By building a platform that benefits both parties, Wavlake can create a more sustainable music industry where artists can be paid fairly for their creations.

Overall, the completion of Wavlake’s seed round financing marks an important milestone for the platform. With the support of Trammell Venture Partners and blockchain technology, Wavlake has the potential to transform the music industry for the better. As fans and artists move towards a more decentralized and equitable music ecosystem, Wavlake’s use of blockchain and Web3 tools can pave the way forward.

This article and pictures are from the Internet and do not represent SipPop's position. If you infringe, please contact us to delete:https://www.sippop.com/2393.htm

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.