Australian music company Vinyl Group has made a significant move in the digital collectibles space with its acquisition of London-based platform Serenade, in a deal valued at up to $1.6 million. Vinyl Group, which launched its website last year to replicate the experience of crate-digging for digital records, expands its offerings with the addition of Serenade’s marketplace for physical and digital collectibles. The deal includes an upfront payment of $553,000 in shares, with an additional $1 million in shares contingent upon revenue and earnings targets. Serenade, known for working with global artists and major record labels, operates on the Polygon blockchain and has seen significant growth in sales since its launch. The CEO of Serenade, Max Shand, will join Vinyl Group as part of the acquisition.
Latest
Australia’s Vinyl Group Hits the Right Note with $1.6M Serenade Crypto Collectibles Deal
