The launch of a multimillion-dollar investment fund from Binance Labs was announced recently. Binance’s incubator team is becoming more active and is investing in numerous blockchain-based solutions. Contentos is the latest public blockchain project to receive funding from Binance Labs. The content platform presents a decentralized, global public blockchain that solves ownership, distribution, and collaboration issues in the content industry.
Contentos Helps the Content Industry Flourish
Mick Tsai, co-founder and CEO of Contentos, described the idea for the company, saying:
“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.”
According to Tsai, the Contentos team is “thrilled” to have received support from Binance Labs and claims that the investment will help it in pursuing its goal of revolutionizing and monetizing digital content. The team also intends to create a positive ecosystem for content creators, influencers and consumers alike.
Binance Labs head Ella Zhang commented on the investment, saying:
“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.”
The investment amount in the project is yet to be disclosed by both parties.
Creating a New Blockchain Niche
The platform is one of the first open-source-code blockchains that provides content distribution services as well. Content creators get creative freedom on the platform without third-party interference. They can create whatever they like and leave a digital footprint that ensures ownership protection as well. It has integrated with Cheez, PhotoGrid, and LiveMe to help creators make use of blockchain technology.
Contentos has also announced partnerships with NEO Foundation and Ontology. The NEO Global Capital partnership, a subsidiary of NEO Foundation, will help the platform find more developmental solutions. On the other hand, Ontology will help Contentos in community building, application development, and blockchain research.
Contentos claims that it is confident in the direction that the platform is headed and will continue to develop a comprehensive protocol that helps in the integration of social media and blockchain technology.