Wax Poetics Raises $1M To Pioneer New Platform For Music Collectibles
Funds to develop platform technology, make key marketing and curation hires, and accelerate expansion into new genres and markets
Investors include Kickstarter’s Perry Chen, plus founders of WhoSampled and Mixcloud
Early Mariah Carey tape sold for $54,050 – a record price for a demo cassette by a female artist
Other auctions have included items from Tupac, New Order and James Brown
Music collectibles platform and journal Wax Poetics has closed a $1 million funding round to support the next phase of its expansion.
Investors include Kickstarter founder Perry Chen, as well as Nadav Poraz (founder and CEO of WhoSampled), Nikhil Shah (co-founder of Mixcloud), and other leading music executives.
The fundraise marks a significant milestone in Wax Poetics’ evolution into a highly scalable music collectibles platform and will be used to develop its tech, make key marketing and curation hires, and accelerate expansion into new genres and markets.
Founded in Brooklyn in 2001, Wax Poetics first made its name as an internationally-respected music journal. After nearly 25 years, the brand has reinvented itself as a platform that combines editorial with a marketplace for music collectibles. It enables artists, producers and creators to directly auction items (including instruments, recordings, studio equipment and personal ephemera) to communities of deep fans and collectors. Wax Poetics’ aim is to build a modern, forward-thinking platform that is rooted in culture, authenticity and storytelling – rather than hype.
Since relaunching in 2025, Wax Poetics has sold the highest-value demo cassette ever by a female artist: Mariah Carey ($54,050). The platform has also closed successful auctions with artists including Bootsy Collins, Louie Vega, and Arthur Baker, and recently announced its latest collection, which includes one of the earliest known cassette recordings of Tupac.
Wax Poetics enables artists and music creators to monetise meaningful objects from their history, while capturing their legacy in a way that feels authentic and considered — with items’ cultural significance, context and provenance highlighted through original editorial. At the same time, it offers fans and collectors a chance to deeply connect with their favorite artist and own a piece of music history.
As part of this new phase, the executive team has been strengthened with the appointment of legendary music producer Arthur Baker as the platform’s first Artist Advisor in 2025, and Nikhil Shah, co-founder of Mixcloud, as Chairman in 2024.
Alex Bruh, CEO at Wax Poetics, said: “Wax Poetics has long been an important authority for music’s most knowledgeable fans. With the new model we are able to open up a much bigger, high scale opportunity around music collectibles, while staying true to our storytelling roots. This funding allows us to formalise what we’ve long known: music collecting is a huge opportunity and an often overlooked or undervalued market. We’re building the platform that finally does justice to the space.”
Perry Chen, founder of Kickstarter and an investor in Wax Poetics, commented: “The direct to fan business is about community, trust and curation. That’s something Wax Poetics has in spades. It’s a rare combination that gives the platform real credibility with both artists and fans.
Louie Vega added: “A lot of my fans have followed me for years and already feel part of my journey. To be able to connect with them through a piece of my history, and deliver it alongside a personal story attached to it, is truly special. I’ve had great reactions from my fans and collectors.”