KOR Protocol raises $7.5M Series A at $100M valuation to route creative works onchain
What's the deal? KOR ProtocolDealroom has a profile for this one. Try Dealroom → has raised a $7.5 million Series A at a $100 million valuation. The round drew 1kxDealroom has a profile for this one. Try Dealroom →, Blockchain Capital, Republic CryptoDealroom has a profile for this one. Try Dealroom →, SfermionDealroom has a profile for this one. Try Dealroom →, Alumni Ventures, and SevenXDealroom has a profile for this one. Try Dealroom →.
What's the endgame? KOR describes itself as an onchain creative asset clearinghouse built on Coinbase's Layer 2 blockchain. It helps verify, route, and settle creative works such as music and movies, matching registered assets with labels, agencies, brands, and platforms.
It is not building a new chain. Instead, KOR is designed to be composable with existing IP infrastructure, using stablecoins like USDC for payments and "programmable splits across the people and partners involved."
By the numbers: KOR said it has surpassed $2 million in gross revenue. It reports over 1,000 partners — including Black Mirror, Beatport, Imogen Heap, Banijay Group, and KDDI — plus more than 1 million lifetime sign-ups and 400,000 connected wallets.
What's the money for? KOR will use the funds to continue developing its platform and fund ecosystem growth and partner integrations. It also plans to launch a token.
"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," said Ritty Quin, an electronic music producer and chief executive officer of KOR.
The signal: KOR is not alone in seeing value in using blockchains for intellectual property, particularly amid the rise of AI. Earlier this year, Story Protocol relaunched as the DATA Foundation to focus on AI training data. At $7.5 million, KOR's raise sits in the lower tier of venture round sizes — modest capital for a bet that creative rights and payments belong onchain.
Read more: The Block
