Binance Invests ‘Tens of millions of {Dollars}’ in Contentos

Contentos – a digital media firm – introduced this Tuesday that it has secured funding from Binance, a Tokyo-based cryptocurrency trade. Neither firm revealed the precise figures concerned however, in its assertion, Contentos mentioned the funding was value “hundreds of thousands of {dollars}.”

Based earlier this 12 months by Mick Tsai, Contentos goals to develop what one may describe as a blockchain YouTube. Successfully, it goals to supply a extra streamlined and clear reward system for content material creators.

There may be some irony in the truth that the corporate claims present enterprise fashions imply video producers could also be unwilling to deal with sure matters for concern of upsetting their advertisers. That’s in all probability true, however Contentos can be based mostly in China, a rustic that isn’t famend for its love of free speech.

As with many blockchain companies, Contentos additionally emphasizes the truth that its system is ‘decentralised’ and can allow customers to attach immediately. In actuality, they’ll nonetheless be connecting by way of a platform, Contentos and so it’s troublesome to see how ‘decentralisation’ on this context makes a lot distinction to finish customers.

Binance Labs Investing in Contentos

At any fee, the agency will now be capable of proceed with their plans with the assist of Binance. As we speak’s announcement signifies that the recent funding got here from Binance Labs – an incubator and social affect fund that helps blockchain-based tasks and start-ups.

“We’re devoted to figuring out the actual use circumstances to implement blockchain applied sciences.” Mentioned Ella Zhang, Head of Binance Labs, There’s a transparent pain-point to be solved within the content material creation trade, and we see Contentos is the best staff with essential sources to resolve the issue.”

Alongside this new partnership with Binance, Contentos already has a few offers in place with cryptocurrency agency Ontology and the NEO Basis – an organization owned by one other cryptocurrency agency, NEO.

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