Coop Records is live.
It’s something I’ve been working on for the better half of the last 6 months, and on this week’s edition - I’m excited to unpack what this means.
First and foremost - Coop Records is not a record label. At least in the traditional sense.
It’s a venture fund paired and incubator focused on web3 artist development.
Coop Records does not sign masters. It buys equity, tokens and NFTs.
The first of these investments are set to be announced this week, but to give some context on where the $10M is set to be deployed:
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~85% into pre-seed and seed stage music companies.
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~10% into “Artist Seed Rounds”
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~5% into Music NFTs
For the first bucket, think of this as the companies, platforms, and protocols shaping the next generation of music.
Sound, Catalog, and Royal are three examples, though I’ve been seeing many more projects pop up - all keen to connect the dots and put web3 music on the map. (Q3 update coming SoonTM).
For the second bucket, think of these investments more as long-term bets on specific artists and everything their ecosystem consists of - rather than just their masters.
Lastly - Music NFTs. Think of these less as buying every Sound drop, more as selectively picking up historic NFTs that have the potential to have 100x returns.
Beyond these three buckets - some other ideas that I’ve been toying with:
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What does a label deal look like that ONLY takes ownership of NFTs, not of masters or publishing?
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How do you structure an artist’s company?
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What does investing into your community look like?
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How can an advance be used to build smaller, more engaged communities - rather than running ad campaigns to get passive listens?
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How do you entice artists to commit to releasing Music NFTs for everyone of their songs?
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How does Coop Records co-exist with a major label?
I don’t have clear answers for these yet, but we’re getting closer everyday.
To give some insights into what this launch was like - it was wild to see the response from all sides of the music industry.
Whether it was companies reaching out with pitch decks, rappers sending their mixtape or music enthusiasts looking for a job - the spectrum of responses was fascinating.
All I can hope is that Coop Records got someone to take web3 music more seriously.
This is no longer a fun sandbox that collectors are toying around with.
There is a very real movement happening here, and it’s time that everyone started to pay attention.
It’s not about the technology, it’s about the stories that emerge because of the technology.
It’s not about Drake, it’s about the next Drake.
It’s not about the number of plays, it’s about the quality of your community.
These are the topics I challenge myself with every day, and if you’re reading this - I hope that they inspire you too.
Upcoming Drops
Freshly Minted
Top Stories
Billboard Covers Coop Records
Ben Brown gives an overview on the launch of Coop Records.
Coop Records on the Mint Podcast
Adam Levy does a deep dive on Coop Records past, present and future
Metav3rse Coop Records with First Podcast
Roberto Nickson covers Coop Records in genesis podcast.
Arjan Writes Unpacks Coop Records
Arjan Timmerman gives a full background story on my relationship with music leading up to Coop Records.
Coop Records Mirror Post Sells Outs
25 editions collectors for the full scoop on Coop Records
Bonus Reads
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