Corite $CO

Corite (CO) is a music and tech startup from Sweden with an innovative approach to funding artists. Established in 2018, Corite has created a unique platform that enables fans to play a fundamental role in the success of their favorite artists. This platform allows fans to invest in music and receive a proportion of the streaming profits. This not only allows fans to support their favorite artists but also become pivotal parts of the journey from product creation to implementation.

Platform and User Base

The beta version of the Corite platform was launched in October 2019 and has since grown a user base of over 25,000. Central to Corite's business model is the fans' financial support. This support empowers artists to independently build their careers and earn money from their own work. Furthermore, fans can participate in the creative process and promote music they love. Artists, on the other hand, are able to fund and release their music via their dedicated fanbase. This business model has proven successful thanks to the strong connection between artists and fans it fosters.

Financial Milestones and Market Expansion

In July 2021, Corite entered the US market, joining forces with Hitco and successfully closing a US$2.2 million presale for their utility token $CO – the native currency of the Corite platform. This strategic move helped Corite widen their audience, attract a talented team, and establish a democratic work environment for artists. More recently, in January 2022, Corite announced the closing of a €600K seed round for the European launch of its fan-funding platform. This round was led by Tagehus, Eastate, and Almi Invest.

Industry Collaborations

Corite collaborates with numerous prominent music industry professionals such as L.A. Reid and Charles Goldstuck, founders of Hitco Entertainment, and legendary producers Rico Love and Konstantin Kersting. Most notably, Corite recently partnered with Alan Walker to release multiple tracks and contribute to the "Walkerverse" in Web3.

Recent Developments

In January 2022, Corite successfully completed a $6.2 million private token sale round to launch the upcoming blockchain platform. Notable investors include NGC, CoinCO, Coin98, KuCoin labs, Chromaway, Gate