Irish-based crypto start-ups SoundsMint and Staxe have partnered to host Ireland's first tokenised music event in what the companies describe as a celebration of Irish music and Web3 technology.

SoundsMint, which is in the process of building a decentralised virtual rehearsal space on blockchain, and Staxe, which tokenises cultural and creative productions, will hold the event at the Soundhouse on Eden Quay in Dublin at 7pm on 1 July.

Artists Trophy Wife, Smythy, VOXMouse and Cormac Looby will perform at the gig, dubbed 'Chruinnigh do Cheol', with ticket sales also being tokenised as NFTs in order to equitably distribute funds to the performers.

"We have a common aim to create a better ecosystem for independent artists. Together, and with the benefits of Web3, we can achieve this aim. This event will highlight what can be achieved, not only in the short term, but long term," said Ryan Kemp, co-founder of SoundsMint.

Luis Martinez, CEO of Staxe, added that the collaboration and the event would aim to "provide a new and innovative way on how to finance live events and give more power back to the artists."

In Association with

Staxe's Web3-based platform is use to finance cultural productions and events, and the company has a stated goal of extending finance to all kinds of artists transparently to help them generate income and allow them to create more art.

SoundsMint aims to circumvent fragmented services used by musicians with its virtual rehearsal space, which will also feature music production and community aspects.

Tokens and NFT tickets for the event can be purchased here, and tickets (€12.50) can also be bought from Eventbrite.

(Pic: Staxe/SoundsMint/Getty Images)