Afterparty, the platform dedicated to empowering creators with the tools and technology for personal fan connections and monetization, has successfully secured $5 million in funding. This strategic growth round was led by Blockchange Ventures and included participation from existing investors Acrew Capital, Act One Ventures, and Tamarack Global, as well as new investors Wilson Sonsini and Vinny Lingham.
The funding injection will drive Afterparty’s latest product development, focusing on enabling scalable interactivity between creators and their fans. Currently offering features such as live streaming, 1:1 chats, in-real-life (IRL) community events, and collectibles, Afterparty will soon introduce AI voice, photo, and video messaging through its new platform, Afterparty AI. This innovative platform will empower creators to expand personalized fan interactions to an unlimited extent while involving fans in the creation of unique images and videos, which will be stored as collectibles on the blockchain.
Afterparty AI introduces 24/7 on-demand access to conversations with creators’ AI for fans. The images and videos generated with Afterparty AI become one-of-a-kind collectibles, each unique to the fan who creates them and verified on the blockchain. These interactions and content pieces serve as “points of access” to exclusive experiences, facilitating one-to-one connections between fans and creators on Afterparty Livestreams.
David Fields, the CEO and Founder of Afterparty, highlighted the platform’s mission: “We are thrilled to introduce 24/7 interactions between creators and fans with Afterparty AI. The all-new ability to turn one-to-one AI experiences into fan-generated content takes interaction to an entirely new level. Creators retain control over their content, revenue, and fan relationships. Fans get the opportunity to become content creators and participate in the growth and success of those who inspire them.”
Afterparty has already attracted thousands of creators, including musicians like Lauv and Jaden Hossler, dancer and choreographer Matt Steffanina, podcasters Tana Mongeau and Mads Lewis, and international stars Nicolle Figueroa and Strangehuman. Creators have embraced Afterparty as a pivotal platform for nurturing their creative growth and strengthening their fan relationships. It has also become a place for artists like Eben to release exclusive content and connect with fans in unique ways.
Afterparty initially launched in 2021 as a token-gated fan access and collectibles platform but has since evolved into a comprehensive interactive destination, providing creators with the necessary tools and experiences to regain control of their fan relationships and revenue. Notably, Afterparty Livestreams have shown the potential to double or triple creator livestream revenue compared to platforms like TikTok Live.
The booming creator economy, projected to reach $480 billion by 2027 from $250 billion in 2023, has attracted significant investment in AI-focused startups, with $300 million invested in Q2 of 2023 alone. Afterparty AI aims to capture a strategic share of this growing market.
With this strategic growth round, Afterparty has now raised a total of $12 million in capital. Notable investors in previous rounds include Paris Hilton’s 11:11 Media, Spencer Rascoff, Jason Calacanis, and Kygo’s Palm Tree Crew, with $4 million in unsolicited funding in 2022 and a $3 million pre-seed round in 2021.