Binance Labs, the venture capital arm and incubator of Binance, today announced its strategic investment in Melos Studio, an innovative Web 3.0 music NFT platform.
Through the strategic investment, Binance Labs will provide Melos Studio with necessary technologies, consultation, and incubation services. Melos Studio will contribute to Binance ecosystem by diversifying music NFT category in Binance Smart Chain (BSC), by expanding the team and by creating more collaborations with top global artists, as well as indie artist discoveries.
Committed to leveraging blockchain technology to create a quality music application in Web 3.0, Melos Studio uses the pioneering NFT technology to capture and give full play to the value of every musical notation. It also adopts DAO governance that enables creators to derive inspirations through NFT DNA Tree and collaborations regardless of location and time. This music inspiration will eventually evolve into more musical artworks. Establishing a Github creation process for music, Melos Studio also serves as a unique social contact method, allowing musicians and fans to communicate and share music here.
Chase Guo, Investment Director at Binance Labs, said “We hope to innovate the field of music NFT with Melos Studio and are looking forward to collaborating with the team. Melos is differentiated in that it not only covers the marketplace and streaming service but also covers creator platforms where people can build on top of each other’s music NFT to create more advanced NFT.”
“We are glad to form a partnership with Binance Labs to create an innovative music NFT platform within the Binance ecosystem. We will continue to explore music applications in Web 3.0 to build a utopia for global music fans,” said Yalu and Jim, Co-Founders of Melos Studio.
Dapper Labs, Innovion, NGC Ventures, and Multichain Capital participated in previous funding rounds of Melos Studio.