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Corite

    Corite

    get your share in music you love and get paid when it’s streamed. ruled by artists, backed by fans in web3

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    mission & key concepts

    Corite is a music tech startup. Corite is the first platform that truly enables fans to invest in artists and be a part of the creative journey from inception to delivery.

    It works by letting fans invest in music and get a share of streaming profits, becoming an integral part of the journey from product creation to implementation.

    how it works & current challenges

    The essence of the Corite business model is as follows: thanks to the financial support of fans, artists can independently build their careers and earn money from their own work. Fans can even get involved in the creative process and promote their favorite music. Meanwhile, artists can fund and release their music through dedicated fandom. This scheme works due to the strong connection between artists and fans.

    The CO project is a decentralized platform based on Corite’s proven model for independent artists and fans to co-create, fund and promote music. Using fan power, artists can engage and reward their fans in every aspect of their career and share success together.

    The current focus is on expanding their audiences, attracting a talented team and creating a democratic working environment for artists.

    Product roadmap

    Q2 2022:

    Fan Power & Song Shares

    • NFT drops
    • CO wallet
    • Fan Power & Song Shares on blockchain

    Q3 2022

    $CO token & Fan missions

    • Public launch of the $CO
    • Fan funding on blockchain
    • Fan missions

    Q4 2022

    Play to Earn & Hero projects

    • Artist created missions
    • New app design
    • Selected artist drops

    core team

    • Mattias Tengblad - CEO & FOUNDER
    • Emil Angervall - CREATIVE DIRECTOR & FOUNDER
    • Emelie Olsson - COO & FOUNDER
    • Charles Goldstuck - BOARD MEMBER
    • Nils Fohlin - LEAD BLOCKCHAIN DEVELOPER
    • Alexandr Onufriychuk - MARKETING & BUSINESS DEVELOPMENT

    history & achievments

    Corite (CO) is a Swedish music and tech startup founded in 2018 that has its own distinct approach to funding artists.

    The beta version of the platform was released in October 2019 and now has a 25 '000 user base.

    In July 2021, Corite entered the US market and partnered with Hitco to successfully close a US$2.2 million presale for their utility token $CO – the native currency of the Corite platform. More recently, in January 2022, Corite also announced the closing of a €600K seed round for the European launch of its fan funding platform. The round was led by Tagehus, Eastate and Almi Invest.

    Corite works alongside a number of prominent music industry professionals such as L.A. Reid and Charles Goldstuck, founders of Hitco Entertainment, legendary producers Rico Love (Beyonce, Usher) and Konstantin Kersting (Dance Monkey, 4000 studios) and more. Recently, Corite completed a deal with Alan Walker to release multiple tracks and help bring the "Walkerverse" to Web3.

    In January 2022, Corite CO succesfully completed a $ 6.2 million private token sale round to launch the upcoming blockchain platform.

    Investors include NGC, CoinCO, Coin98, KuCoin labs, Chromaway, Gate labs, Kyros Venture, Shima Capital, Everse Capital, Rarestone Capital, NGC

    Funding

    Corite has raised a total of $6.9M in funding over 3 rounds. Their latest funding was raised on Feb 22, 2022 from a Seed round.

    Corite is funded by 10 investors. Charles Goldstuck and Kyros Ventures are the most recent investors.

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