According to Foresight News, Web3 fan platform Medallion has announced the completion of a $13.7 million Series A funding round, co-led by Dragonfly and Lightspeed Faction. The funds will be used to introduce new early access opportunities, such as pre-listening to unreleased music and offering presale tickets, as well as other member benefits like 'video premieres or new updates'. Artists will also be able to sell new exclusive and limited edition digital collectibles/NFTs, such as poster bundles and trading cards.
Medallion provides a dedicated digital hub for artists to promote album releases, tour dates, and merchandise launches while selling digital collectibles and sharing exclusive content to deepen connections with fans. The company plans to expand the platform to hundreds of artists by 2024, with widespread adoption expected in 2025 or later. To date, Medallion has raised a total of $22 million in funding.