Unitea, a Miami-based music platform that incentivizes fan engagement with blockchain-authenticated rewards, raised $7M in a funding round.
The round was led by 1st Class Guernsey, Chaos Capital, TokenSociety, and Fuel Venture Capital.
Unitea aims to strengthen the bond between artists and their fans by offering a platform that fosters meaningful interactions and innovative artist content.
The platform’s unique “engage-to-earn” model encourages music fans to share their data, which they can exchange for rewards dubbed “Karma”.
This data provides valuable insights for artists and opens up targeted advertising opportunities for brands.
CEO Ketan Rahangdale leads the company, which is committed to ethical data use and transparency.
The funding will be used to enhance the platform’s capabilities within the music industry and explore potential applications in other sectors.
“Unitea is transforming the way artists connect with their fans while providing brands with a new way to reach their target audience,” said Rahangdale.
“This funding will enable us to further develop our platform and expand its impact in the music industry and beyond.”
BusinessNewsAsia