FIX and REPLACE Afterparty Raises $4M in Unsolicited Funding; presents its NFT ticketing platform for artists

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  • Media 11:11 by Paris HiltonJason Calacanis, Blockchange Ventures, Acrew Capital and 25 others are investing
  • Funding Fuels Product Scale to Deliver “NFTs for Access” Ticketing Platform
  • Success of first token access festival drives expansion of event lineup nationwide

LOS ANGELES–(BUSINESS WIRE)–Subtitle and second paragraph should read: “Paris Hilton’s 11:11 Media…” (instead of “Paris Hilton…”).

The updated version reads as follows:

AFTERPARTY RAISE $4M UNSOLICITED FUNDING ROUND; PRESENTS ITS NFT TICKET PLATFORM FOR ARTISTS

  • Media 11:11 by Paris HiltonJason Calacanis, Blockchange Ventures, Acrew Capital and 25 others are investing
  • Funding Fuels Product Scale to Deliver “NFTs for Access” Ticketing Platform
  • Success of first token access festival drives expansion of event lineup nationwide

Afterparty, the NFT platform that gives creators the tools and community to monetize and directly manage their fan relationships, today announced that it has closed a $4 million funding round to bring the total capital raised at $7 million. Strategic Community Cycle Accelerates Platform Growth as Afterparty Introduces World’s First NFT Ticketing Platform for Artists, Addressing a Multi-Billion Dollar Unmet Need in the Music Industry for a transparent, verifiable and artist-focused box office.

More than 25 entrepreneurs, creators and VCs took part in the round, including Paris Hilton’s 11:11 Media, Spencer Rascoff (Zillow), Jason Calacanis (The Syndicate), David Friedberg (The Production Board), Nicole Farb (Headline), Andre Iguodala (NBA player, Catalyst Fund), Rudy Cline-Thomas (Mastry, Inc.), Reade Seiff (Sunset DAM) and Desiree Gruber (Full Picture). Blockchange Ventures, a leading crypto fund, as well as Acrew Capital and TenOneTen Ventures, venture capital groups that co-led Afterparty’s fundraiser, also participated.

“When we launched Afterparty, we knew we were creating a new model for NFTs based on lifetime ‘membership’ access and IRL experiences,” said David Fields, CEO of Afterparty. “What we didn’t know was how much and how quickly the idea of ​​’Coachella meets Art Basel’ would resonate with our vibrant community of investors, artists, creators and fans. Now we’re using that valuable support to create something that gives back to the entire music ecosystem.

From Asset to Experience: NFTs now generate lifetime IRL perks

Afterparty allows creators to use NFTs as a tool to unlock real-life, interactive experiences. Far from being idle works of art decorating a virtual portfolio or Twitter profile picture, these tokens represent vibrant and creative festivals, artist events, and deeper artist-fan connections.

Afterparty’s first coin-operated festival provided a full-scale proof of concept. Now, the platform is developing tokens to make it the artists’ priority alternative to conventional ticketing platforms. Ticketing services charge fees which average around 30% but can reach more than 70%. The secondary market buys tickets before fans can get them, then resells them at inflated prices on sites like StubHub, and artists get nothing from those sales. NFT-based ticketing promises to put control of the industry back in the hands of artists and fans.

Afterparty promises and holds “NFTs for Access” with event lineup

Last month, Afterparty proved that NFTs unlock experiences at scale with its first NFT music and arts festival in Las Vegas. Headliners The Chainsmokers and The Kid LAROI performed to over 6,000 attendees. Heidi Klum and Nick Carter created live NFTs on the Las Vegas Strip.

This fall, Afterparty is taking the festival to Los Angeles. Access will be through its second-generation Guardian NFT collection, which will be available soon. 10,000 of these unique NFTs will be minted to serve as VIP access to the Los Angeles Film Festival and “Lifetime Festival Membership”, priority access to purchase a VIP ticket for each subsequent year – all for the price of a conventional VIP festival pass. So far, NFT Afterparty holders have been treated to live parties at a secret location in the Hollywood Hills and once-in-a-lifetime performance experiences with unplugged shows and star collaborations.

“Afterparty’s mission has always been to open the world of crypto and NFT to everyone and show the possibilities of NFT technology to all creators and fans. Afterparty’s NFT collection gives everyone who have ever attended a festival as a way to understand the power of ‘NFTs for Access’ and gives them ownership of the community they help build,” said Lauren Kolodny, founding partner of Acrew Capital and co- lead investor in Afterparty.

Creator-led community experiences designed to expand NFT access

Afterparty also serves as a partner in the live hitting process and an educator for artists and creators looking for a deeper understanding and a first step into the NFT space. For choreographer, producer, entrepreneur and early NFT adopter Matt Steffanina, the Afterparty community promises a level playing field for all creatives.

“I’ve built my creative career through social media and IRL projects, and found that online creators, whether artists, dancers, choreographers or musicians, are often more ‘invisible’ and private. of their rights than their peers in the “offline” arena, like touring or TV. Afterparty brought a whole new meaning to NFTs to legitimize their “art” and empower them with mentorship to step into Web3” , said Steffanina.

Unleashing the Potential of Web3 for an Artist- and Fan-Driven Future

Afterparty has driven a new Web3 era for the creator economy since its launch in 2021, which quickly attracted influential creators and investors for a quick closing round. The company has since grown its community to include hundreds of chart-topping music artists like Sia, Nile Rogers and Echosmith, actors and icons like Josh Duhamel and Heidi Klum, and creators like Loren Gray, King Bach , Vinnie Hacker and Teala Dunn. .

“Afterparty is shaping the future of Web3 by expanding the reach of cryptocurrency beyond the crypto native and investor community to creators and fans who all see innate and immediate value in the experiences Afterparty creates and organizes,” Fields added.

To learn more about Afterparty, visit afterparty.com. To follow updates on new community members and the range of token access experiences, follow Afterparty on Instagram.

About the after party

Afterparty is the Web3 company that creates the tools and community for creators and their biggest supporters to capitalize on the tangible and real value of NFTs. Founded and run by entrepreneurs who are both tech-focused and creators, Afterparty has extended its first tokenized events platform from the virtual world to IRL experiences to bring together a vibrant community that realizes Web3 is the way to follow and uses the experiential value that NFTs deliver.

Holding one of Afterparty’s NFTs unlocks access to the Afterparty universe, which includes the upcoming Halloween weekend of the NFT Afterparty Los Angeles arts and music festival, the inaugural festival that s is held last March returning to Las Vegas in 2023. LA Afterparty House, pop-up events at Art Basel, and much more. To learn more about Afterparty and the first annual Afterparty NFT Art & Music Festival, visit Afterparty.com.

contacts

press contact
Lindsey Henn

PR after party

[email protected]
626.893.4228

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