Binance Labs has announced a multi-million dollar investment in decentralised content ecosystem, Contentos. The exact amount of cash being stumped up was not disclosed.
Launched by the world’s largest cryptocurrency exchange, Binance, Binance Labs is an incubator and social impact fund that invests in projects using blockchain technology to transform diverse industries.
Light bulb moment
“The idea for Contentos began when I noticed a serious need for a decentralised content ecosystem offering transparent and fair monetisation of creators’ content, and no third-party censorship or removal of content,” says Mick Tsai, CEO and Co-founder of Contentos.
“The Contentos team is thrilled to have the support of Binance Labs in pursuing our goal to revolutionise the preservation and monetisation of digital content, while working towards creating a more positive ecosystem for all content creators, influencers, and content consumers.”
Ella Zhang, Head of Binance Labs, comments: “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 as the right team with critical resources to solve the problem.”