After exiting BMG in December, the former president of U.S. repertoire, Zach Katz has decided to launch an investment group “Raised in Space Enterprises” with Ripple’s Xpring, Ithaca Holdings, a firm created by Justin Beiber’s manager Scooter Braun, and Shara Senderoff, a music and tech entrepreneur.
According to an available update, Raised In Space is poised to investing in entrepreneurs having technological ideas that will disrupt the music industry.
The ideas must be focused in some notable strata of the music space among which are project guiding, ticketing and touring, fan engagement, distribution and creation of music projects. Companies investing in the idea are to deposit funds between $500,000 to $5 million.
Prepare For XRP Integration With Raise In Space
Raised In Space is going to survive on its partnership with Ripple’s Xpring to integrate Ripple’s digital asset XRP and blockchain technology as soon as possible.
The founder, CEO and partner Katz used six years working at BMG, however decided to retract its step and return to the music world. He co-founded label Beluga Heights.
He said: “Over the last five-plus years every time I’d have one of these conversations with tech founders I’d find myself being super fired up, but the reality was I had to go back to my day job the next morning, so I could never engage.”
“I had that look-in-the-mirror moment and thought about my future and I felt I wanted to have different conversations. I wanted to have a different context for everything that I‘ve learned.”
Meanwhile, Braun is renowned for being a manager to Ariana Grande and Justin Beiber while also focused on investing in ideas.
“The relationship between music and tech has massive untapped potential,” he said, adding that “I’m excited to launch a company focused on bridging these two industries in a transformative and actionable manner that raises the value of music.”
At the moment, Katz has not disclosed the weight of Raised in Space’s coffers, however, he said, talking about those interested in investing into the idea that “we plan to make six-to-10 very well thought-out investments per year in the range of $500,000 to $5 million and we are completely prepared financially to do that for the next five years or more.”
Ripple’s XRP Price Analysis: Downward Intact, Drops Below $0.290 Support
Ripple’s XRP price trends low, dropping below $0.290 support. XRP value is extending losses in the market and it may drop below $0.270 level.
- XRP/USD is trending with a bearish structure in the market.
- The altcoin has plunged below the $0.303 resistance level, with a breaking pattern around resistance $0.295.
- XRP might continue to trend low in the market to break the $0.270 support.
XRP/USD yesterday corrected it market downward trend slightly, moving above $0.3070 resistance before returning with a bearish structure.
XRP continued on the bearish trend till today, dropping below $0.290 support as at press time.
Looking at the 4 hours market chart, the trade pair has apparently been on the downward trend. Even though it topped near the $0.29, it later resumed for a fresh decline. XRP broke $0.29 support level and settled beneath the 25 simple moving average.