The family investment firm of rock band Metallica participates in funding round for Medallion
Black Squirrel Partners, founded by Metallica band members, is one of the backers in a Series A funding round for Medallion, an artist-to-fan platform. The goal of Medallion is to help artists establish connections with their fans. Other investors in the funding round include Coinbase Ventures, Infinite Capital, J17, The Chernin Group, Third Prime, and Zeal Capital. Medallion, led by former Songkick CEO Matt Jones, raised $13.7 million in this round. Notable music industry veterans also participated in the venture round.
Metallica’s third notable venture through Black Squirrel
This investment by Metallica’s family investment firm marks their third notable venture in 2023. They previously made acquisitions in March and joined a funding round for Word Collections in August. Black Squirrel’s latest investment in Medallion will support the platform’s technical roadmap and its mission to facilitate direct artist-to-fan connections.
Medallion aims to unlock direct artist-to-fan connections
Medallion, led by industry veterans from Songkick, Instagram, YouTube, and other platforms, addresses the challenge of artists having limited direct connections with their fanbase. The platform aims to unlock these direct artist-to-fan connections by providing white-label fan experiences and digitally native interactions. The team behind Medallion has a strong track record of developing pioneering technology for major artists and has received support from enthusiastic investors.
Metallica warns fans about cryptocurrency scams
Metallica issued a warning to its fans about cryptocurrency scams leading up to the launch of their new album, 72 Seasons. As a band known for its use of technology and cryptocurrency, Metallica has become a target for scammers looking to profit from the album’s release and their upcoming tour. The band urged its fans to be cautious of crypto giveaway scams and shared their own experiences of falling victim to such fraud. Scammers have been impersonating Metallica on social media and creating fake YouTube live streams to trick fans into fraudulent schemes.
Hot Take: Metallica Invests in Medallion to Strengthen Artist-Fan Connections
Metallica’s family investment firm, Black Squirrel Partners, has participated in a Series A funding round for Medallion, an artist-to-fan platform. The investment aims to help artists build stronger relationships with their fans by facilitating direct connections through white-label fan experiences and digitally native interactions. Medallion, led by industry veterans, has secured $13.7 million in funding and plans to utilize the funds to accelerate its technical roadmap. This investment reflects Metallica’s continued interest in supporting innovative ventures within the music industry, following previous acquisitions and funding rounds. Through their involvement with Medallion, Metallica is further solidifying their commitment to empowering artists and enhancing the artist-fan relationship.
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