October 25, 2021

Vampr offering NFTs to new investors

Vampr offering NFTs to new investors

Vampr, a professional network for musicians and artists, is seeking to further scale the business via crowdfunding.

To encourage new investors to get on board, the platform will offer the first 400 investors who commit $500 or more a one-of-a-kind Vampr NFT.

An NFT is a non-interchangeable unit of data stored on an online blockchain that certifies its authenticity. Photos, videos, audio files and other digital assets can be traded and sold as NFTs.

Vampr said NFTs continue to transform the digital universe and are inspiring consumers and creators like. Musicians, the company said, are at the forefront of this conversation.

Vampr’s co-founder and former TMN 30 Under 30 winner, Josh Simons, said Vampr is the first company in the history of equity crowdfunding to offer an exclusive NFT as a perk.

“We wanted to offer our user-investors a collectible, limited and exclusive piece of Vampr memorabilia,” he said.

The company has previously raised US$2.6 million from music industry executives, VCs, angel investors and two prior rounds of crowdfunding from 2,060 user-investors.

This latest campaign will run for several months with a maximum offering of $4 million. The new funds are set to scale the business ahead of an anticipated Series A round in the next 18 months.

Vampr said since its inception, it had facilitated 6.5 million connections between aspiring young artists and industry professionals. Its global community of musicians and creatives have collaborated in more than 220,000 original songs and generated royalties of $162 million.

At the time of writing, 265 investors have contributed US$403,741 to the campaign.