Mark Hoppus and Pete Wentz join launch team for “venture capital music startup” Verswire – 98KUPD – Arizona’s Real Rock
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Blink-182it is Marc Hoppus and Fall out Boyit is Peter Wentz are part of a team launching a new “venture capital music startup” called Verswire.
Founded by Sherry Saeediwhich previously co-founded streaming platform Veeps, Verswire was designed as a “development incubator” rather than a traditional record label.
“Using the ‘Shark Tank’ ideology, Verswire acts as a venture capital fund that views artists as entrepreneurs, matching each with a personalized investment that includes top-tier funding, resources, tools, mentorship , the backing of prominent music executives and an ecosystem to own and operate their businesses while allowing them to retain the majority of their masters,” a press release read.
Hoppus is Verswire’s A&R partner and is also one of the mentors that will be associated with each Verswire signer. Wentz, meanwhile, is a “strategic advisor.”
“I’m very excited to help create a new way for bands and artists to create music for communities, while retaining ownership of their work,” Hoppus said.
Wentz adds, “I’ve been a fan of Sherry and the work she’s done for years, and I can’t wait to be a part of Verswire’s journey.”
Verswire’s first signing is a band called Dropping out of beauty school, who just released a new song called “Assassin”. Hoppus, who mentored the band, appears in the backing track videowith Wentz and Paris-Jackson.
(Video contains uncensored profanity.)
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