The music-tech market is hotter than ever — so hot that it might be reaching a boiling point. While music and tech have always been tightly intertwined throughout history, the concept of music-tech as a vital investment category has emerged only in the last two decades, with significant momentum bubbling up in the last five years. We can break down this evolution into three stages:

Music NFT platform Sound.xyz announced the acquisition of digital collectibles platform Soho. The entire Soho team led by Omid Aziz will join Sound, with Omid serving as its Chief Technology Officer.

Sona Stream, a Web3 music streaming marketplace, has launched with a $6.9 million seed round from Polychain Capital, Haun Ventures and Rogue Capital. The platform allows artists to sell "digital twins" of their songs as SONAs (Music NFTs) to collectors, who can promote the songs by sharing them on social media. SONA owners receive 70% of the streaming revenue on a pro-rata basis, while artists get 30%. The company redistributes the revenue every two weeks, proportional to how much the specific song is streamed. Sona currently features music tracks from several artists and aims to raise the number to over 16 million tracks by 2024.