RCRDSHP
The business, the turning points, and the decisions behind them.
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Sections to complete：02 · 05
01 / WHAT IT BUILT
What the company did
RCRDSHP, pronounced record shop, was a digital collectibles platform for electronic music launched in August 2021 by founder Obie Fernandez under parent company Let The Music Pay. Built on the Flow blockchain, it sold limited-edition digital collectible packs from global dance music artists, labels, festivals and clubs, with collectibles spanning music tracks, mixtapes, video clips and visual art that could be bought, sold and traded on its marketplace. The debut drop of 5,555 genesis packs sold out within hours, and the company closed a multi-million-dollar seed round backed by Dapper Labs and NFT collectors Metakovan and Twobadour, raising more than $5 million. The platform is no longer operating, with company trackers marking it shut down; no public post-mortem has been found.
02 / FAILURE REASONS
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03 / EVENT HISTORY
Events in the structured record
- Company founded
RCRDSHP was founded in 2021 and launched in August 2021 with a sold-out drop of 5,555 genesis packs of electronic music digital collectibles.
- Funding round
In September 2021 RCRDSHP closed a multi-million-dollar seed round backed by Dapper Labs, Metakovan and Twobadour, raising more than $5 million.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
Material for this section is being gathered and checked. It will appear here once ready.
Overall assessment: Not completed
05 / CAUSAL CHAIN / AFTERMATH
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