Web3 business Chapel has acquired Bristol-based music and creator smartlinking startup Amplify.link. The post-acquisition business – now named Amplify – will use web3 innovation to bring together and empower artists and creators to thrive in the modern world, giving them the ability to create long lasting income from live gigs- after the gig’s are over, using DeFi (decentralised finance instruments powered by blockchain technology). You can find out more about Amplify’s origins in our Startup for 10 interview here.

They’re combining the power of NFTs and DeFi 2.0 to create a permanent yield for an artist and venue after the gig has finished. Amplify will allow fans to directly invest in a gig and share the yield with the artist, promotor, and venue.

Empowering artists through tech

The music industry is currently worth £33 billion globally, yet artists only see on average 12% of the profit, with the remaining 88% taken by streaming services, record labels and other middlemen. Amplify, with Web3 technology, has the power to create whole new revenue streams for artists and creators to take home

Amplify aims to bring Web3 into the music mainstream, enabling them to not just survive but thrive in today’s world. Already Amplify.link offers smart linking and marketing tools to allow artists and creators to connect and monetise their fans more effectively, and with the introduction of Web3, they can not only earn from these relationships in new ways, but own their data and build strong communities too.

“We’re looking to take Amplify.link from Web2 to Web3 and build out a community that can help shape our new direction”

– Sam Bates, CEO & Founder of Amplify

Through this acquisition, Amplify’s powerful network of backers now includes Snoop Dogg and Deadmau5 (both investors in Europe’s largest Web3 venture fund Outlier Ventures), and some of Web3’s most prominent thought leaders such as Silly Tuna and Maxstealth.

The disruption to the live music industry that the pandemic caused will hopefully never have to be repeated, as the Metaverse grows and the options for experiencing music grow. Web3 offers unparalleled opportunities for artists and creators, and Amplify is offering its community the chance to be at the forefront of this new world, one where everyone can benefit equally.

Join the Amplify Discord community here to have your say in their journey and be on the ground floor of the Web3 music revolution.

Making decisions

We spoke to Sam about making the decision to be acquired by Chapel, he tells us, “The primary reason for the acquisition is the team and their really inspiring vision which puts artists at the heart of the community and aims to enable them to earn forever from their creations.

“Ian and Irfon both have great track records in their industries and the experience in Web3 that we really valued, especially as we believe in taking Amplify.link from a Web2 to Web3 company. Irfon’s involvement in Outlier Ventures and Ian’s music career gives them a dynamic overview of their industries and compliments what Amplify.link is all about.”

So, what can we expect next from Amplify? Sam says, “First a name change, post acquisition we are now Amplify which brings together Amplify.link’s tools and Chapel’s Web3 innovations. We’re looking to take Amplify.link from Web2 to Web3, build out a community that can help shape our new direction and we’ve got a roadmap that will mean we can double down on delivering even more value for artists. We’ve got a really exciting announcement coming at the start of May which really shows our commitment to delivering for artists, facilitated by Web3 so keep tuned for that!”