TechFlow reports, citing AlleyWatch, that Baton, a blockchain-based music collaboration protocol developer, has announced a $4.2 million funding round led by BITKRAFT Ventures, with participation from Techstars, Dorm Room Fund, NYU Innovation Venture Fund, Berkeley Center for Entrepreneurship, Dark Arts, Franklin Templeton, and Harmonic Future.
According to the report, Baton has built a music collaboration protocol and a mixed-media collaboration protocol on the blockchain, designed to help creators exchange musical assets, track intellectual property rights, and receive corresponding incentives. The company also aims to expand these applications beyond the music industry in the future.
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