PopEx launches new non-fungible token (NFT) platform for music business which was founded by Matt Bond, the acclaimed performer, songwriter and entrepreneur.
PopEx platform allow artists to mint, sell and trade individual NFTs and collections and artists using PopEx to sell royalty shares, band experiences and digital collectibles.
The platform has been built on Polkadot, which is the world’s lowest carbon-footprint blockchain and a percentage of all sales donated to carbon offset projects.
Read more on Cryptocurrencies and investments:
PopEx received backing from a consortium of VCs. Values company at $40m.
Matt Bond, Founder and CEO, PopEx said, “By using PopEx, artists are able to freely and inexpensively mint, sell and trade NFT collections using a blockchain with the world’s lowest carbon footprint.
“Not only does this provide artists with a sustainable, digital extension of the traditional merchandise stand, but offers fans new and innovative ways to support and engage with their favourite artists and even festivals. This could range from a standalone digital collectible or an NFT that offers a share of royalties.
“PopEx can change the way artists are discovered, improve how they connect with their fans, and ultimately reshape the entire music industry.
“This vision, which empowers artists and their fans in an entirely new and sustainable way, has backing from some of the leading VCs in Web3 and beyond.
“This is affirmation of PopEx’s mission. They share our commitment to providing a platform that will allow artists to leverage this technology to enable their creativity by freeing them to dictate how they shape themselves commercially.”
Yat Siu, Executive Chairman of Animoca Brands and PopEx investor told LondonLovesTech.com, “In PopEx we see limitless potential for artists to forge meaningful connections with their fans through NFTs.
“This in turn empowers them to maintain creative independence by finding new blockchain-enabled ways to commercialise their output.
“In Matt Bond and his team we are backing a visionary group who have shaped an approach to changing the music industry for the better through a true artists’ perspective.”
Performer, songwriter and entrepreneur, Matt Bond, has launched PopEx, a new all-in-one digital collectibles platform, specifically designed for the music industry. The platform makes it easy for musicians to create and sell non-fungible tokens (NFTs) and other exclusive items and experiences, and for fans to own official, authenticated limited-edition work by their favourite artists and even stakes in the artists’ royalties.
Until now, the NFT space has been challenging for both fans and artists to enter and navigate. The vision behind PopEx is to build a community in which NFTs are more accessible for everyone. By removing the barriers and paywalls normally attached to NFTs, PopEx aims to restore closer relationships between verified artists and their audiences.
For artists, there is a simple registration process, following which they are able to brand and personalise their official PopEx profile. The creation – known as ‘minting’ – of an NFT is then as simple as uploading artwork, which is then automatically processed using the world’s most sustainable blockchain, Polkadot. The NFT can be previewed before being listed on the PopEx marketplace – already a busy digital destination artist-created NFT collections.
Using PopEx, the nature of NFT can also be easily edited. It may be a digital collectible, but by modifying the smart contract that sits behind the NFT, artists can commit to offering unique experiences, tickets, physical items and even stakes in artists’ royalties using the technology, offering very tangible rewards for the commitment to a band.
PopEx has designed the fan experience to be as simple as possible. They are able to sign up in seconds without the requirement for an existing crypto wallet or any prior NFT/blockchain experience – users need only supply an email address and debit card.
While most NFTs are bought using cryptocurrency, payment for PopEx products can be sent using debit card, PayPal and Apple Pay: users do not need to handle blockchain transactions, and all purchases are kept safe in a dedicated, secure wallet so fans can review and share their purchases with friends.
Authenticity of PopEx NFT products is guaranteed. PopEx works directly with artists, record companies, music publishers, festival organisers, promoters and artist management companies to authenticate and verify all digital collectibles sold on the platform.
As well as providing artists with additional income streams and fans with new ways to engage with their favourite artists, PopEx is donating a percentage of all sales to help fund global carbon reduction projects through its climate partners Aerial and Senken; it’s also enrolled in the Stripe Climate Program.
The platform itself is built on Polkadot, the world’s most carbon-efficient blockchain. Polkadot consumes broadly the same amount of power in one year (or 36.5 million NFTs) as is used to charge a Tesla once.
The vision for PopEx has been proven by significant venture capital backing. PopEx has concluded its seed funding round. This values the company, founded in 2021 at $40million (USD).
Backers include Animoca Brands, the global leader in gamification and blockchain. The company has a portfolio of over 340 investments in its mission is to advance digital property rights and decentralised projects to help build the open metaverse. Other backers include Shima Capital, UOB Bank, Cudos, Outlier Ventures and Tileyard.