Kid Cudi Co-Founded Encore Raises $9M In Seed Funding To Help Music Artists Get Paid
Photo Credit: Albert L. Ortega
,

Kid Cudi Co-Founded Encore Raises $9M In Seed Funding To Help Music Artists Get Paid

Being a source of inspiration for fellow artists is at the heart of Kid Cudi’s latest venture in the tech space.

In 2020, the rapper co-founded Encore, an interactive live performance app that helps artists further connect with their fans. Now, in 2022, the platform has officially launched and made its debut on app stores, according to a press release.

“My number one priority has always been inspiring others and providing them the space to tell their own stories in an authentic and meaningful way. We created Encore as a space for artists to share their art, build community, while also being able to pay their rent,” Cudi shared in a statement.

The announcement of Encore’s launch comes in after the raise of $9 million in seed funding led by Battery Ventures, the press release details. Other investors included 468 Capital, Parade Ventures, Nomad Ventures, Moving Capital, Kayak Ventures, and Gaingels.

Encore's Mission

Cudi’s Encore plans to play a part in democratizing the music industry. The app provides tools and technology for artists to both build their fan base through interactive experiences such as shows, live discussions and dropping new music, as well as serves as a new source of income.

How Encore Benefits Artists

Encore’s technology features mobile augmented reality (AR) shows, where artists can headline concerts in AR environments. Their payment from show attendees comes from “gamified microtransactions in the form of a ten-cent clap.”

The press release discloses that during the private beta stage, hundreds of artists including SSGKobe, The Cool Kids, Too $hort, and DC the Don used Encore — totaling to nearly a million claps from their fans.

“Music artists are the original creators and they have been forgotten by the creator economy and overrun by memes and algorithms on social media,” said Jonathan Gray, CEO of Encore. “Our live AR technology empowers any artist to create personalized content and host experiences for their fans without a production budget or crew and make real cash with 100’s of engaged fans.”

How To Use Encore

To use the Encore Studio App and perform live in AR:

  • Visit the App Store on your iPhone or iPad and download Encore Studio: Live Music AR.

To watch live AR performances:

  • Visit the App Store or Play Store and download Encore: Interactive Live Music.