NFT firm Serenade simply raised USD $4.2 million. What’s it going to spend it on? – Music Enterprise Worldwide


Trailblazers is an MBW interview sequence that turns the highlight on music entrepreneurs making waves of their native markets, who’ve the potential to change into the worldwide enterprise’s energy gamers of tomorrow. This time, we converse to Max Shand, the founder and CEO of rising music NFT market, Serenade. Trailblazers is supported by Consider.


There are a rising variety of celebrity buyers in music startups nowadays.

From The Weeknd to Puff Daddy, Snoop Dogg, and extra, superstars are splashing their money into rising platforms they imagine in each week.

However Hollywood stars are getting in on this act, too.

Take, for instance, Hugh Jackman, who not too long ago joined a USD $4.2 million funding spherical into music NFT platform Serenade.

Serenade is run and was based by tech entrepreneur (and Jackman’s fellow Aussie), Max Shand, who says he’s aiming to construct his agency into the world’s main “genre-agnostic music NFT market”.

Serenade runs on a layer 2 Ethereum blockchain referred to as Polygon, which, claims the corporate, permits it to mint NFTs at an “eco-friendly” stage (i.e. with far much less vitality used than a typical NFT execution).

With workplaces within the UK and in Sydney, Serenade has thus far labored with artists together with The Kooks, Ladyhawke, Tremendous Furry Animals, and others, whereas Shand (pictured) was himself not too long ago named in Forbes’ 30 beneath 30 listing in Asia.

Right here, as a part of MBW’s Trailblazers sequence, Sydney-based Shand explains why he believes the long run is brilliant for music NFTs – and why he believes his firm will probably be within the middle of the revolution…


Serenade not too long ago raised AUD $6m (USD $4.2m) from backers akin to Hugh Jackman, plus executives from Warner Music Group and elsewhere. why was now the proper time to lift?

That $6 million goes proper into our tech to make sure we are able to proceed to enhance our consumer expertise for followers, and work throughout extra fantastic inventive initiatives with artists.

Past this, we’re investing in our group, to develop our advertising, product, and partnerships sources between the UK, Australia, and shortly to be the US.


What’s the final ambition of the corporate?

Our final mission is to carry artists nearer to their biggest followers, and in doing so, generate new income streams and imaginative inventive output.


There have been just a few stats out not too long ago in regards to the fall in demand/worth of sure varieties of NFTs. For instance, BLOOMBERG REPORTS that month-to-month world gross sales of nFTs (of all sorts) are presently on target to fall under USD $1 billion for the primary time since final summer time. In the meantime, the world’s largest NFT market, OpenSea, has seen its gross sales quantity fall 75% since Might. Is all of that worrying to you, or is it only a pure correction of the market?

The place NFTs are bought as investments, they’re weak to the exact same worth cycles as conventional funding autos.

That stated, the place NFTs are bought as collectibles to suggest ardour for, and help of, an artist or creator, then worth stays mounted – as homeowners didn’t acquire the NFT to show a fast revenue.


Paint us an image: what is going to the music trade appear like for artists and followers in ten years’ time?

In 10 years’ time, there will probably be a larger acknowledgment of the function of direct-to-fan revenues within the total artist income combine – and to help this, there will probably be all types of fantastic tooling.

Streaming will stay on the coronary heart of an artist’s providing from a passive viewers engagement and discovery perspective. Nonetheless, merchandise – each conventional and by way of modern methods to monetize an artist’s model and fanbase (that don’t carry any rights) – will dominate the income combine.


What benefits and downsides (if any) are there of you launching your organization out of Oz?

Australian founders preserve a continuing hearth of their bellies to show themselves on the worldwide stage given we’re so far-off. We take pleasure in searching to key markets and choosing them on the idea of their strategic worth.

However hey, I’d be kidding myself in saying that Australia makes it simple to arrange a two-sided music market! Our early mornings are our solely instances to achieve the US, and our late nights are the perfect hours to talk within the UK, leaving the daytime for Australia.

Australia is usually thought-about a beautiful testing floor for brand spanking new improvements, however within the music trade, the impulse to entry bigger overseas markets arrives sooner than your skill to battle-test a brand new product.


Inform us one thing that may shock individuals within the trade about your organization and its enterprise.

Regardless of our ambitions to be a genre-agnostic music NFT market, our private love of all issues indie retains on drawing us again to working with [independent and independent label-signed] artists.

Whereas this has the potential to steer us off track, constructing a platform round fan engagement and new methods to serve super-fans has meant that this devoted understanding of and empathy with indie sensibilities has been a guiding mild and firm accelerator.


You’re a rising entrepreneur. In hindsight, contemplating your story to now, what recommendation would you give anybody pondering of creating the leap to beginning their very own enterprise?

Solely set forth on the ludicrous journey of organising your individual enterprise in the event you’re motivated by ardour and a real enthusiasm to unravel a sure downside. If these are your motivations, there will probably be no setback nice sufficient to really disarm you, and every single day will probably be a continuing pleasure.

“If a brand new enterprise has the chance to catapult you into fantastic relationships and conversations, then nothing ought to cease you.”

Higher but, in the event you suspect you’ll love the individuals you’ll work with and have the chance to fulfill, then go for gold: on the finish of the day, life is all in regards to the individuals you spend it with, and if a brand new enterprise has the chance to catapult you into fantastic relationships and conversations, then nothing ought to cease you.


The query we ask everybody: Which one factor would you modify in regards to the fashionable music enterprise and why?

Controversial opinion from a man who dates a company lawyer and has solely lived with company attorneys: if I might change one factor in regards to the fashionable music enterprise, it might be to power a obligatory rights training upon enterprise leaders to make sure that authorized prices are solely borne once they must be.

Music trade professionals and companies don’t generate sufficient cash because it stands, and funneling as a lot as they do to attorneys in pointless conditions is a continuing ache in my backbone.Music Enterprise Worldwide

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Trailblazers is an MBW interview sequence that turns the highlight on music entrepreneurs making waves of their native markets, who’ve the potential to change into the worldwide enterprise’s energy gamers of tomorrow. This time, we converse to Max Shand, the founder and CEO of rising music NFT market, Serenade. Trailblazers is supported by Consider. There…