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NFT Music Royalty Market MasterExchange Completes $2.7 Million in Financing

MasterExchange, an NFT music royalty investment market, has completed a $2.7 million financing round with participation from Vectr Fintech, Claes-Henrik Julander, and Rob Small, as reported by Music Business Worldwide. MasterExchange has launched its first "Initial Music Offering (IMO)" product, "Sofia," and has sold out.

MasterExchange, co-founded by AI and blockchain expert Alexander Fred-Ojala, allows music creators to raise funds by selling a portion of their future income (i.e., music royalties) to support early-stage creation. It is expected to launch more IMO products in the fall of this year.

According to the MasterExchange website, royalty shares are tradable assets on the MasterExchange platform, and each royalty share is unique and associated with an NFT on Polygon. However, NFTs are held by external encrypted custodians, and users will not directly interact with NFTs when using MasterExchange.

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