According to Billboard, Metallica have contributed to a $13.7M investment in Medallion. That direct-to-consumer platform is working to assist artists with efforts to build relationships with their fans.
The funding round, which was co-led by Dragonfly and Lightspeed Faction, included contributions from Coinbase Ventures, Infinite Capital, J17, Third Prime, Zeal Capital, The Chernin Group, Metallica’s Black Squirrel Partners, Bill Silva Entertainment, Guy Lawrence (Disclosure), Foundations Artist Management, Jungle, Mt. Joy, Method, Tiga, and TAG Music. Medallion is seeking to provide a white-label platform for artists to create online communities that will offer fans various experiences and products. Their clients include: My Morning Jacket, Sigur Ros, Santigold, Tycho, Greta Van Fleet, Mt. Joy, and Jungle.
Rob Hadick (Dragonfly) commented:
“Medallion is building the infrastructure to enable artists to directly interact with their highest intent customers through new and exclusive products and experiences, while simultaneously owning the customer relationship themselves and driving net new revenue opportunities around their IP. We believe this paradigm shift will permeate across the entirety of the creator economy.”
Will Leas (Lightspeed Faction) added:
“Artists only have direct relationships with a fraction of their fanbase. Medallion solves this problem by unlocking direct artist-to-fan connection. The team has a history of building pioneering technology for the world’s biggest artists, and we are thrilled to back them on this journey.”
Metal Anarchy 
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