Music commerce app Single has secured an funding from on-line procuring providers platform Shopify.
The corporate has additionally launched token-gated commerce and content material options to its app.
Nashville-headquartered Single was based in 2016 by Tommy Stalknecht as a assortment of music-specific toolsets for on-line shops. The corporate handles merch and document gross sales, gross sales reporting, ticketing, dwell stream live performance internet hosting, and extra.
As of July 2022, Single says it has labored with greater than 3,000 artists and labels, and has reported over 20 million document gross sales, delivered over 5 million digital albums, and facilitated greater than 500 live-streamed occasions with round 1 million tickets bought.
The corporate has additionally labored with such artists as Juice WRLD, Travis Scott, and Harry Types.
With the discharge of token-gating content material and commerce for the Single app on Shopify, Single claims that “in mere minutes”, a creator can add any file to the Single Platform to mint it as an NFT on the Solana blockchain.
The corporate says they will then push it on to their Shopify storefront to be bought by followers alongside their present merch.
Following the acquisition of an NFT, followers can use their NFT as a “digital key” to achieve entry to unique choices from the creator akin to merch, audio or video content material, dwell streams, and extra.
By integrating Internet 3.0 functionalities into its Shopify app, Single claims to be “empowering creatives, artists and musicians with instruments to interact with their followers in new methods and to unlock progressive commerce experiences”.
“Internet 3.0 is having a huge effect on the broader creator ecosystem, particularly within the music area, however the suggestions I hear most frequently is that NFTs don’t inherently have worth on their very own.”
Tommy Stalknecht, Single
Single Founder and CEO of Single Tommy Stalknecht mentioned: “Internet 3.0 is having a huge effect on the broader creator ecosystem, particularly within the music area, however the suggestions I hear most frequently is that NFTs don’t inherently have worth on their very own.
“A greater method to consider tokengating is to check it to a fan membership. A fan purchases an NFT by a creator’s Shopify storefront, which supplies them entry to unique choices and experiences that solely fellow NFT house owners have entry to.
“Put merely, we’re letting artists create NFTs that truly do issues [and] that unlock particular tangible worth.”
“Tokengated commerce gives creators the flexibility to interact with their true followers by unlocking distinctive commerce experiences by way of NFTs.”
Chevy Walcott, Shopify
Shopify Company Improvement Supervisor Chevy Walcott added: “Tokengated commerce gives creators the flexibility to interact with their true followers by unlocking distinctive commerce experiences by way of NFTs.
“Shopify sees NFTs as instruments for neighborhood constructing and engagement.
“The launch of Single’s new…options of their Shopify App helps extra retailers unlock new and fascinating commerce experiences. Our funding in Single and our rising blockchain ecosystem demonstrates our dedication to additional develop participation in Internet 3.0 and broaden commerce potentialities for creatives, artists and musicians.”
Music Enterprise Worldwide