Kid Cudi’s AR live performance app raises $9m
Encore, the live performance app co-founded by American rapper Kid Cudi, has raised US$9 million (€7.9m) in seed funding.
The raise was led by Battery Ventures, and other investments came from 468 Capital, Parade Ventures, Nomad Ventures, Moving Capital, Kayak Ventures, and Gaingels.
The Encore Studio: Live Music AR app enables artists to create and perform live in custom Augmented Reality environments from their mobile device.
Fans participate via gamified microtransactions in the form of a ten-cent clap, which can be used to watch live shows, chat with an artist, and interact.
While in private beta, hundreds of artists including SSGKobe, The Cool Kids, Too $hort, and DC the Don have created and performed shows on Encore, attended by tens of thousands of fans who have collectively clapped almost a million times.
“We created Encore as a space for artists to share their art, build community, while also being able to pay their rent”
“My number one priority has always been inspiring others and providing them with the space to tell their own stories in an authentic and meaningful way,” says Scott “Kid Cudi” Mescudi.
“We created Encore as a space for artists to share their art, build community, while also being able to pay their rent.”
Jonathan Gray, co-founder and CEO of Encore, added: “Music artists are the original creators and they have been forgotten by the creator economy and overrun by memes and algorithms on social media.
“Our live AR technology empowers any artist to create personalised content and host experiences for their fans without a production budget or crew and make real cash with 100’s of engaged fans.”
Headquartered in Los Angeles, Encore is co-founded by Cudi, Gray and Hollywood producer, screenwriter and director Ian Edelman (president).
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