VAULT, the mobile-friendly Digital Music Collectible (DMC) format created by the co-founders of sports betting market leader FanDuel, announced that it has raised $4M in Series A funding following a breakthrough six months in which fans purchased over 3,000 DMCs from FLETCHER, the critically lauded singer-songwriter and fast-rising queer icon, who recently released her acclaimed debut album Girl Of My Dreams.

The Series A round was led by Placeholder VC, a premier investor in decentralized networks, with additional participation from existing investors AlleyCorp, Bullpen Capital, and Everblue Management. The recent funding brings the company's total funding amount to $13M.

Created by the co-founders of sports betting market leader FanDuel, VAULT is the creator of the mobile-friendly Digital Music Collectible (DMC) music format and the VAULT protocol, an open and fully decentralized network for purchasing, playing, and sharing music on third-party apps and websites. DMCs are designed to be the digital version of a box set giving music fans exclusive rich-media experiences that can be purchased, unlocked, and played right on your phone. Like physical box sets fans may buy, lend or resell their DMCs at any time.