Illustration: Brendan Lynch/Axios
Hume, a Los Angeles-based web3 music company that creates digital artists, has acquired music startup Blocktones, the company tells Axios.
Why it matters: Hume is trying to create a music label for the web3 world and is among the companies that see a chance to upend the music industry and build a new compensation model that circumvents the traditional labels.
Context: The excitement and investor dollars behind the NFT market collapsed last year as quickly as it had surged.
Details: The deal brings Blocktone’s open-sourced generative audio collections to Hume's platform.
Catch up quick: Blocktones, launched as an NFT project in 2022, combines generative audio and 3D images of the industry’s biggest producers and digital artists, including Grammy-winning producer Federico Vindver and Timbaland, Illmind, and Trap Money Benny.
Of note: Hume and Blocktones last month hosted a songwriting camp during Art Basel in Miami Beach that featured web3 artists Reo Cragun and Hume’s angelbaby.