Animal Concerts has successfully held a $6.75 million private round from a consortium of funds and token holders.
Animal Concerts, a next-generation metaverse entertainment platform, has already hosted concerts with Busta Rhymes, Future, Alicia Keys, Meek Mill, Diplo, and Gunna in the metaverse.
Animal Concerts is found at the intersection of concerts, NFTs, VR, gaming, advertising, merchandising, distributed ledgers, and cryptocurrencies. The aim is to completely revolutionize the existing concert and entertainment industry through the introduction of Web3 technologies, replacing an obsolete model with an entirely new paradigm that provides numerous verticals for profitability.Â
Some of the prominent backers within the private round included ZMT Capital, Maven Capital, Metrix Capital, Magnus Capital, Skybridge20, Arkn, Amesten Capital, Greenhorns Capital, Brotherhood VC, Interstellar Ventures, and Sheesha Finance. Additional supporters included Polygon and Klaytn through ecosystem grants, as well as Netvrk, Vera, and GlobalStar.
Animal Concerts has a number of initiatives towards which the funds are being allocated. This will mainly include the pursuit of top-tier artists for metaverse events as well as collaborative NFT drops, marketing, ecosystem development, liquidity provisioning, and team expansion.
Shortly after the fundraising, an in-person concert was held in LA on the 12th of February with Mill, Diplo, and Gunna. The project is finalizing two sets of NFT collections: one with an A-list artist and their own, along with securing a Tier 1 exchange to list the $ANML token in the coming months.
The project is looking to disrupt the existing live concert and online entertainment industry by securing record deals with artists and providing a new means of experiencing entertainment events.
This will further open revenue generation models in the form of record deals, ticket sales, merchandising, advertising, and more. The project whitepaper (PDF) notes the glaring inefficiencies within the existing concert industry and is complementing it with decentralized technologies to ensure a more interactive and equitable transaction for all parties.
Animal Concerts is launching its own in-house cryptocurrency specific to the live concert industry with some real utilities never before experienced. The project is bringing an entirely new ‘Watch-to-Earn’ model where metaverse participants are rewarded for their time and attention. Alongside being able to use your $ANML to purchase merch, virtual meet and greets, and stake to get access to free concerts, the ecosystem invites purchasers to get involved knowing their tokens are getting circulated into best use case scenarios.
Alongside the successful private round, the $ANML token was available for purchase on five project launchpads between January 17–21, before selling $800k throughout the week. The launchpads included Vent Finance, Firestarter, Synapse Network, Polkabridge, and Starter.
The price for the token was $0.0045. For each IDO the lock-up was 25% at the TGE with 75% vested over 6 months. These project launchpads assist in finding long-term holders, incubation and awareness, marketing, and KYC verification.
Next on the Animal Concerts roadmap is a Tier 1 CEX listing where the token, $ANML, will be listed and available for purchase. They also have secured AscendEX as another exchange that will list $ANML. Finally, an exciting NFT drop in collaboration with an A-list artist will be hitting the marketplace in the next quarter.Â
