Web3 music startup TRAX completes approximately US$2.9 million in financing on ICP blockchain

Web3 music startup TRAX has announced the completion of a decentralized round of financing of approximately $2.9 million on the ICP blockchain (a total of 314,000 ICP tokens). After this round of financing, TRAX will operate as a decentralized autonomous organization (DAO) controlled by TRAX's new governance token holders, with the funds raised stored in the TRAX DAO treasury for TRAX holders to decide how best to use them. TRAX plans to build a content aggregator and social marketplace to help artists create digital spaces for their super fans.