Entertainment-focused KOR Protocol has raised a $7.5 million Series A funding round with participation from 1kx, Blockchain Capital, and others at a $100 million valuation, according to an announcement shared with The Block.
KOR Protocol describes itself as an onchain creative asset clearinghouse built on Coinbase’s Layer 2 blockchain that provides infrastructure to help verify, route and settle creative works, like music and movies.
By registering these assets onchain, KOR argues they can be better matched "with the right labels, agencies, MCNs, brands, curators and platforms." Moreover, using stablecoins like USDC can help with payments, including "programmable splits across the people and partners involved."
"As both an artist and an operator, I know how difficult it is to translate strong work and audience momentum into distribution, partnerships, and sustainable revenue," Ritty Quin, an electronic music producer and CEO of KOR, said. "KOR is building the system that connects those pieces by helping talent get recognized earlier, reach the right opportunities, and build lasting careers."
KOR said it will use the Series A funds to continue developing its platform and for ecosystem growth and partner integrations. It is also planning to launch a token, according to the announcement.
