Binance invests millions of dollars on decentralized global content ecosystem Contentos 24399
News
Pinaz Kazi
Oct 3, 2018 at 8:56 AM

Contentos, a decentralized global content ecosystem, recently announced a multi-million dollar investment from Binance Labs on Saturday.

Launched by Binance, the world’s largest cryptocurrency exchange by trading volume, Binance Labs is an incubator and social impact fund that invests in top projects using blockchain technology to transform industries.

“The Contentos team is thrilled to have the support of Binance Labs in pursuing our goal to revolutionize the preservation and monetization of digital content, while working towards creating a more positive ecosystem for all content creators, influencers, and content consumers,” said Mick Tsai, CEO and co-founder of Contentos.

As of now, Contentos is one of the first open-source-code blockchains with capabilities that include content distribution. It aims to provide a decentralized ecosystem for content creators to leave their digital footprint without the risk of third-party interference. Unlike similar projects building new products and features to adapt to blockchain technology, the Contentos team has already integrated with three successful products - LiveMe, PhotoGrid, and Cheez - and is currently available to users around the world.

“The idea for Contentos began when I noticed a serious need for a decentralized content ecosystem offering transparent and fair monetization of creators’ content, and no third-party censorship or removal of content,” Tsai added.

“We are dedicated to identifying the real use cases to implement blockchain technologies. There’s a clear pain-point to be solved in the content creation industry, and we see Contentos is the right team with critical resources to solve the problem,” said Ella Zhang, head of Binance Labs.

Through direct investments, collaboration with other industry partners, and the Labs incubation program, Binance Labs is committed to helping top BUIDLers jump start their ideas and realize the full potential of blockchain.

Recently, Contentos also announced partnerships with Ontology and the NEO Foundation. The partnership with Ontology aims to use both companies’ expertise to expand upon existing blockchain research, application development and community-building. The partnership with NEO Global Capital, a unit of the NEO Foundation, will offer more opportunities for Contentos to explore technology-based solutions for developing capabilities.

With the list of partnerships and investments growing, Contentos is confident in the direction its is headed as it continues to develop its comprehensive protocol to promote the integration of blockchain and social media.

See also:

Binance eyes launching public beta of decentralized exchange by 2018-end: CEO

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