Sound.xyz Raises $20M Series A Led by Andreessen Horowitz to Expand Web3 Music NFT Platform for Artists
Sound.xyz, a San Francisco–based on‑chain music platform that aims to reshape how artists distribute, monetize, and interact with fans, has raised $20 million in a Series A funding round to accelerate expansion of its Web3 music NFT ecosystem and broaden access for creators worldwide. The round marks a major milestone in the company’s growth as it transitions from a limited‑access beta to a full public release designed to empower musicians with new economic tools.
The Series A was led by Andreessen Horowitz through its crypto‑focused arm, which first backed Sound in a seed round in 2021 and has continued to support the company’s vision of decentralizing music distribution and payments. Additional participants in the funding included music industry figures and creator‑focused investors such as Palm Tree Crew, Scalar Capital, and A Capital, along with other backers including Sound Ventures, Coinbase, rapper Snoop Dogg, musician Ryan Tedder, and producer Tay Keith.
Founded in 2021 by David Greenstein and his team, Sound.xyz built its platform to give artists a direct, decentralized way to release music on-chain and earn income without intermediaries. The startup’s tools let musicians mint their tracks as NFTs — unique digital collectibles representing ownership or access — on the Ethereum blockchain and its layer‑2 scaling solutions. By issuing music as NFTs, artists can retain full master and publishing rights and keep a larger portion of the revenue from primary and secondary sales, while fans can collect and trade unique digital editions of songs, creating new revenue streams and deeper engagement.
Sound’s approach allows artists to upload songs, set prices, and offer exclusive perks such as limited-edition drops. The platform also features social elements, such as public comments tied to ownership of NFT drops, enabling fans to showcase their support and identity on-chain. Since its launch, Sound has worked with a growing roster of independent artists and released tools that mirror features of mainstream streaming services — but with Web3-native monetization baked into the core experience.
Before the Series A, Sound completed a $5 million seed round also led by Andreessen Horowitz’s crypto arm in December 2021, which supported early product development and community building. The latest $20 million infusion will be used to scale operations, improve platform features, and expand support for creators globally as Sound opens its tools to all artists. With this funding, the company aims to support a broader artist base, enhance discovery and playlisting features, and build infrastructure that supports on-chain ownership and fan engagement at scale.
Investor interest in Sound’s Series A reflects broader enthusiasm for Web3 applications in the creator economy, where NFTs and blockchain technologies are being explored as alternatives to traditional streaming and label-centric models. By enabling transparent, immediate payments and programmable ownership rights, Sound positions itself as a platform that aligns economic incentives between artists and their communities, rather than relying on legacy royalty structures.
The funding round also signals confidence from both crypto‑native venture capital and prominent figures in entertainment and culture. Andreessen Horowitz’s continued support underscores its belief in decentralized music distribution as a strategic intersection of blockchain technology and creative industries. Meanwhile, participation from investors such as Snoop Dogg and Ryan Tedder highlights the convergence of creator economy trends with new digital ownership models that aim to give artists more control and financial participation in their success.
Since the Series A, Sound has been working to expand its feature set and onboarding process, encouraging more artists to explore on-chain music releases as part of a broader strategy to develop a thriving music ecosystem that benefits creators and fans alike. As Web3 infrastructure continues to mature and adoption grows, Sound’s expanded runway and strategic backers could help it play a central role in the next wave of innovation in digital music distribution and creator monetization.
