In General XR News
July 20, 2022 – MELON, development studio for the metaverse, has recently announced that it has raised USD $5M in seed funding. The game development team is behind numerous major music events on Roblox, as well as experiences for partners and clients including the NFL, Chipotle, Mattel, Clarks, and PacSun.
The seed round includes Crush Ventures, the investment arm of Crush Music whose management clients include Miley Cyrus, Sia, Green Day, Lorde, Weezer, Panic! at the Disco, and Fall Out Boy, as well as Gaingels, Comcast Spectacor, and a large SPV led by Matt Finick who has also joined MELON’s board. Finick was formerly CFO at Roblox and at Marvel Entertainment.
“MELON is at the forefront of the creative explosion happening in the metaverse,” said investor/board member Matt Finick. “They are perfectly positioned to build some of the most impactful experiences across music, film and TV, fashion, and sports over the next few years of critical growth on these developing platforms.”
“We’re extremely fortunate to have such a strong collective of early strategic investors in MELON,” explained Josh Neuman, co-founder/co-CEO of MELON. “The Metaverse and platforms within it are ripe for disruption and we’re looking forward to evolving our creativity and storytelling in collaboration with our partners, as well as via our original IP. With this group, we’re going to be able to strategize and navigate the evolving landscape at the highest level.”
The team at MELON has attracted talent from major game studios (EA, Pokémon GO) and lifestyle brands (Urban Outfitters, Marketing Arm, Honda’s former agency of record). According to the company, the multifaceted team has “honed a keen sense for what works in the metaverse,” with several brands apparently taking note. In addition, MELON has experience in putting on virtual music events, working with major labels and attracting millions of visitors to events for Tai Verdes, Ava Max, KSI and Zara Larsson (Larsson’s event in fact won the studio a Clio award this year).
Also commenting on the seed round was Andrew Kahn, Head of Crush Ventures, who stated: “Crush Ventures looks to invest in teams that are building the future of how creators and fans will interact. The MELON team has proven to be uniquely capable of building one-of-a-kind games and experiences. We’re thrilled to invest in and partner with MELON as we explore opportunities together for Crush’s talent in the metaverse.”
Finally, Tucker Roberts, President of Spectacor Gaming, a gaming and entertainment company connected to Comcast NBCUniversal, said: “MELON is on the cutting edge of bringing experiences directly to where Gen Z lives–their phones–and we’re looking forward to the continued innovations that Josh and his incredible team will make at MELON.”
For more information on MELON and the experiences it develops for the metaverse, please visit the company’s website.
Image credit: MELON
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About the author
Sam is the Founder and Managing Editor of Auganix. With a background in research and report writing, he has been covering XR industry news for the past seven years.