TechFlow reported, according to TechCrunch, that Web3 streaming protocol Sona has completed a $6.9 million seed funding round, with participation from Polychain Capital, Haun Ventures, and Rogue Capital.
Sona provides artists with token-based streaming content, music auctions, governance rewards, and other services through modular components built on DeFi. A portion of the revenue generated from music auctions is distributed between artists and the platform. The platform currently hosts over 5 million tracks and expects to expand to 16 million tracks next year. Sona's marketplace enables artists to auction their SONAs to collectors within 24 hours, set minimum prices, and sell to the highest bidder, thereby achieving instant liquidity. Owners of SONA receive 70% of streaming payouts based on their proportion of total streams on the platform.
