Web3 music platforms that harness the power of blockchain technology are building their online homes on .xyz domains. Crypto music publishing platform Sound.xyz aims to disrupt the music industry by helping recording artists gain more of their music’s value by turning songs into collectible NFTs. NFT platform Relics.xyz is designed for fans to collect and display music collectibles, which include a unique visual and full-length song from Monstercat’s roster of Electronic musicians. Forbes-featured artist Brandon Tory’s Formless.xyz leverages blockchain technology to change the way music and other digital content is valued and distributed. In this week’s #BlockchainThursday, we’ll introduce you to a venture fund aimed at investing in artists and startup founders who are uniting web3 and music: CoopRecords.xyz.
CoopRecords.xyz is the online home of Coop Records LP, a $10 million early-stage venture fund aimed at investing in the next generation of music. The Los Angeles-based company strives to invest in platforms, protocols, artists, and tokens enabled by web3 and will work directly with founders and artists to build products that can generate new revenue streams. Founder Cooper Turley is a notable investor and NFT collector who was featured in Fortune magazine’s 2021 NFTy 50 list of the most influential people in the NFT space.1
Proud to announce Coop Records Fund I 🎧
A $10M early-stage fund investing in the next generation of music.
Here’s what you need to know 🔽 pic.twitter.com/yVlxSse7as
— Coopahtroopa 🔥_🔥 (@Cooopahtroopa) September 8, 2022
On September 8, 2022 Cooper introduced CoopRecords.xyz in a series of tweets that also explained his vision for the company as a hybrid between a venture fund, a record label, and an incubator that works with founders to create new revenue streams for music. In a blog post announcement, he shared that CoopRecords.xyz will build a future where artists can raise money and profit off their work without needing to sell their songs to a record label.
Cooper Turley has worked in the music industry for 10 years, including stints as a DJ and an artist manager. He’s been involved in the web3 space for the past five years, most notably co-creating the Friends With Benefits (FWB) DAO. He is a former venture partner at web3-focused Variant and an active advisor across leading web3 music projects like decentralized music platform Audius. He welcomes the sharing of new projects and investment opportunities by contacting him via his branded email address: [email protected]. When you have an email address directly associated with your domain name, potential collaborators can use that email address to find your website and feel confident that they’re reaching out to the appropriate person. Cooper scored the CoopRecords.xyz domain thanks to the choice and availability that exists within .xyz domains. We are inspired by Cooper’s vision for this innovative venture fund. Just as .xyz works to reshape the future of the internet, CoopRecords.xyz is striving to reshape the future of the music industry. If you are interested in receiving regular updates, be sure to subscribe to Cooper’s newsletter. You can learn more by following the company on Twitter, and by visiting CoopRecords.xyz.
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