Sound.xyz is a new startup looking to help recording artists monetize their community through NFTs, as the startup looks to build out a suite of tools designed to bring musicians into the so-called “Web3” fold. The startup released is first product earlier this month, Listening Parties, which enable artists to sell NFTs tagged to the release of new songs. The startup tells TechCrunch it has raised $5 million in a seed raise led by Andreessen Horowitz. The startup is looking to push emerging artists to monetize their work more effectively by leveraging NFTs and help them rise above earning minute fractions of pennies per stream on platforms like Spotify. “The problems that we want to solve are: Can we get music heard and can we get artists paid?”The startup has partnered with a number of “crypto-friendly” recording artists that have been engaging with the community. As the startup gauges demand for NFT drops tied to song drops for certain artists, they have ambition to release more NFTs to the community. The startup notably does not take a commission on the sales and the NFTs. Down the road, the startup wants to create broader tools that allow musicians to crowdfund from fans to create new works and tackle new projects while also creating new incentive models for curators to discover and showcase new music.