Music company Vinyl Group, which is listed, traded the equity of Serenade, a digital and physical collection, for up to $1.6 million in an acquisition.

Odaily Planet Daily News According to the news, Australian listed music company Vinyl Group acquired the assets of London Serenade through a stock deal with a maximum of 1.6 million US dollars, the latter being a platform focused on digital and physical collectibles. Vinyl Group CEO Josh Simons said the company launched its own website last year, aiming to digitally replicate the “crate-digging” experience. This acquisition marks the company’s expansion into the UK and European markets, while strengthening its product in the digital collectibles space. “Our plan has always been to expand Vinyl.com’s products, including music merchandise, digital collectibles, and the experience of connecting fans and creators, acquisition Serenade is the next step in this process,” Simons said. According to protocol terms, Vinyl has prepaid $553,000 in equity, with an additional $1,000,000 contingent on revenue and profit targets. (Decrypt)