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Aria, an IP Tokenization Platform, Completes Two Rounds of $15 Million Financing at a $50 Million Valuation, With Participation from Polychain
BlockBeats News, September 4th, Aria Protocol Labs and Aria Foundation— the team behind the story-driven Intellectual Property (IP) tokenization platform Aria, recently raised a total of $15 million in a seed round and a strategic round of financing. Both rounds of financing were completed last month, following negotiations that began in March. The seed round was led by Polychain Capital and Neoclassic Capital, while the strategic round received support from the Story Protocol Foundation and other unnamed investors in the cryptocurrency, intellectual property, and entertainment sectors.
This financing utilized a combination of equity and tokenized subscription rights, resulting in a $50 million valuation for Aria's equity. The project also plans to launch a native token in the future.
Aria is built on Story, a Layer 1 blockchain designed for IP tokenization. Currently, Aria is primarily focused on the tokenization of music IP, transforming music royalties into tradable tokens with the aim of making this illiquid asset class more accessible to users.
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