Blarecast Systems Announces Seed Round Financing
Blarecast Systems, the UK-based startup aiming to provide an elegant and equitable solution for the music industry with BSV blockchain technology, has closed a seed funding round led by Ayre Ventures, supported by a number of other high-net-worth investors.
Utilizing unique patent pending technology, Blarecast is an innovative music distribution platform built for artists by artists. A project that has been over two years in the making, Blarecast is now ready to harness the power of the BSV blockchain – including its efficient micropayments capabilities – to streamline a range of next-generation use cases.
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Blockchain-based music distribution isn’t new, but previous projects were dogged by economic and technical problems due to incorrect methods of payments via inflationary and pre-mined tokens. Blarecast’s BSV-based platform allows artists to upload, publish, distribute and sell their exclusive digital content and physical merchandise to their fans at a price set by the content creators, who receive payments instantly (even in micropayments), not months (or even years) after the fact.
Commenting on the funding round, co-founder and CEO Shem Booth-Spain said, “the trust, support, and direction of these partnerships will offer the Blarecast platform access to further technologies & expertise for the benefit of artists worldwide.”
Co-founder and COO Luke Mayernik added that, “Blarecast allows all rights holders (artists, bands, and record labels) to harness the power of the BSV blockchain to monetize their content securely within a truly innovative, simple, yet elegant application.”
Ayre Ventures founder Calvin Ayre said Blarecast’s platform “is music to the ears of those who believe in the BSV enterprise blockchain’s ability to reshape industries through its infinite scaling capacity, unparalleled data storage and cost-effective micro-transactions. With BSV as its foundation, Blarecast is poised to transform the music business in a way that prioritizes creators over gatekeepers.”
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