Serenade has secured significant new investment and plans to expand its global operations.
The company describes itself as an eco-friendly music NFT marketplace which aims to “support artists by creating new revenue streams from unique fan experiences”.
Serenade has revealed a new $6 million Australian (£3.4m) fundraise that will further fund and help grow its artist and partner roster across the UK and Australia, as well as in the US, where the company will be entering the market and launching a dedicated office.
The company has been supported by several high-profile music industry investors, including senior management figures from Atlantic Records UK, Secret Sounds, Future Classic, Unified Music Group and Warner Music Group, as well as Hollywood actor Hugh Jackman. The group has also been joined by Matt Gudinski and Johann Poniah of Mushroom Group and former Powderfinger frontman Bernard Fanning.
Serenade will also be undertaking both a visual brand refresh and improvement to its underlying NFT marketplace technology. The new marketplace, Serenade 2.0, will offer artists smart contracts and the ability to split and update royalties amongst multiple beneficiaries, whilst fans will have an improved visual and user experience, including the option to transfer their NFTs outside of the Serenade platform and seamlessly trade on third party marketplaces like OpenSea.
Serenade partnered with the BRIT Awards for the event’s first ever NFT collection this year. The Adele X Artist Of The Year Award NFT sold out within 30 minutes of launch.
Since its launch in Autumn 2021, the company has worked with over 15 artists, ranging from emerging independents to well-known names including Young MA, The Kooks, Jungle, Super Furry Animals, Frank Carter & The Rattlesnakes and Gary Powell from The Libertines.
During the past week, Serenade has released NFT collections with emerging Australian and UK acts Confidence Man, Kota Banks, Juice Menace, Dead Pony and Shivum Sharma.
Max Shand, founder, Serenade, said: “We’ve been thrilled with the platform’s development since launching six months ago, and this progress is testament to the incredible work of both our team and the investors who’ve backed us. We know there is huge demand for accessible, eco-friendly NFTs - and we look forward to further growth, developing the US and other markets and launching version 2.0 of the platform in the coming weeks and months. What a time to come.”