#BlocklikeNews NFT music royalty market MasterExchange completed US$2.7 million in financing, with participation from Vectr Fintech, Claes-Henrik Julander and Rob Small. MasterExchange has launched its first Initial Music Release (IMO) product, Sofia, and sold out.

MasterExchange, co-founded by artificial intelligence and blockchain expert Alexander Fred-Ojala, allows music creators to raise funds to support pre-production by selling a portion of their future income (i.e. music royalties), with more expected to launch this fall IMO . According to the MasterExchange official website, royalty shares are tradable assets on the MasterExchange platform. Each royalty share is associated with an NFT on Polygon and is unique. However, the NFT is held by an external encryption custodian, and users will not directly interact with the NFT when using MasterExchange. Interaction.