Vinyl Group Acquires Serenade: $1.6M Deal for Digital Collectibles Platform

Vinyl Group Acquires Serenade, a Digital and Physical Collectibles Platform, for up to $1.6 Million

Vinyl Group of Australia has made a significant move to expand its global presence by acquiring Serenade, a blockchain-based digital collectible platform, for up to $1.6 million.

The acquisition, the first for Vinyl Group, marks the company’s entry into the UK and European markets, as it continues to explore new revenue streams and ways to connect artists with fans. As Australia’s only publicly listed music company, Vinyl Group is diversifying its income streams in response to the growing demand for digital collectibles.

Serenade’s unique selling point is its approach to digital collectibles, where fans can own and interact with exclusive content in the form of NFC-enabled digital “Smart Formats.” These innovative digital collectibles have seen a 56% month-on-month increase in sales, making them an attractive addition to Vinyl Group’s offerings.

Under the agreement, Vinyl Group will provide $553,000 in shares for Serenade, along with an additional $1 million in share backremses once the project has reached certain revenue and earnings targets. The payout is based on Serenade meeting its revenue target of $2.76 million and earnings before interest and taxes of $345,000 over the next 12 months.

The acquisition is part of a wider strategy by Vinyl Group to establish a comprehensive ecosystem that connects artists with fans and collectors through Polygon, the Ethereum-based blockchain-powered network. This technology provides a fast, secure, and affordable means of transaction, making it an excellent foundation for the digital collectibles market.

For more insights on the digital collectibles market and its potential, read our article on “Digital Collectibles: The Future of Entertainment and Investment” on CoinSeeks.com.

Vinyl Group’s deal is aimed at expanding its presence in the UK and European markets, and Serenade’s extensive network and cutting-edge technology make it a prime opportunity for Vinyl Group to tap into the vast world of digital collectibles.

By focusing on the digital collectibles market, Vinyl Group is positioning itself for long-term growth and success, while also creating opportunities for artists to connect with their fans and monetize their creative work.