Musicians and creators can build their own custom-branded NFT shop for their collection without any technical knowledge required, following the news of FUEL’s €1.5million pre-seed financing round in March 2022 to develop its platform.
With the new investors, FUEL has secured direct access to the music and entertainment scene and further funds. CRO alone holds four number 1 single placements and is currently listened to by nearly 5 million users on Spotify per month. Two Sides, founded in 2017, is run by Lucas Teuchner alongside rapper Bausa (“Was du Liebe nennst”, 2017, #1 single charts). Some of Germany’s most successful musicians, including Apache207, Loredana, Zuna, Azet and Miksu/Macloud, are currently signed to Bausa’s and Teuchner’s label. Two Sides is one of the most successful German independent labels, with over 26 million Spotify streams per month.
FUEL co-founders Csongor Barabasi and Thanh Binh Tran said: “NFTs are revolutionizing the music, arts and entertainment industries, delivering real added value and strengthening the connection between artists and their fans. In the music industry, for example, this could be presale rights for concert tickets or backstage access.
FUEL co-founders Stefan Tietze and Patrice Deckert add: “We are truly excited to have these German rap superstars on board. No one embodies the modern music industry like CRO, Lucas and Bausa, who not only take FUEL to a new level as musicians themselves, but also with their network of artists.”
Rapper CRO said: “I’ve been looking at the NFT sector for a while and I’m convinced of its potential, not only for the music industry, but also for all other areas of the creator economy. With FUEL, I have now found not only a team but also a model that has excited me so much that I also want to be on board as an investor.”
Label boss Bausa adds: “It is important that the music industry evolves. With NFTs and FUEL’s model, we have the chance to make that happen.”
FUEL is uniquely positioned in the German market. The platform enables creators to create, manage and operate their own NFT store without any prior technical experience. In this way, creators retain total control over their external presentation and can operate independently of platforms such as OpenSea.
On matjoelabamba.io for example, the NFT store of Tomorrowland DJ duo Mat.Joe was created with the help of the FUEL platform. Further NFT drops with well-known creators are already in the works which includes DJ legends Tube&Berger and others.