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Web3 Music Platform Vault Raises $4 Million Series a Led by Placeholder VC

Vault, a music platform built with web3 technology, raised a $4 million Series A led by Placeholder VC. 

The equity round closed in the third quarter of last year at a $42 million pre-money valuation, said founder and CEO Nigel Eccles in an interview with The Block. It also featured participation from consumer technology-focused investors such as Alleycorp and Bullpen Capital, which backed Eccles' and co-founder Rob Jones' previous endeavor FanDuel, a sports betting platform. 

Having previously raised seed funding as a "mobile Discord platform" called Flick, the founders pivoted the startup in the summer of 2021. Now, Vault enables artists to release so-called digital music collectibles (DMCs) that rely on NFTs on the Solana blockchain to allow fans to access extra content and open up an extra revenue stream for artists. 

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