Cryptocurrency exchange Binance Labs has allocated millions to Contentos.
Decentralized global content ecosystem Contentos has secured a multi-million dollar allocation from Binance Labs, one of the biggest digital currency exchange operators in terms of trading volume.
Contentos co-founder and CEO Mick Tsai said in a statement:
“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 material.”
He said the company welcomes the investment from Binance Labs which would support its goal
“to revolutionize the preservation and monetization of digital content” while allowing them to develop and create a more positive blockchain ecosystem “for all content creators, influencers, and content consumers.”
Tsai said Binance Labs is known for incubating and funding high-impact blockchain projects with social impact to develop a variety of industries.
Binance Labs head Ella Zhang commented on the agreement:
“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.”
She explained Binance Labs’ direct investments initiatives, as well as the company’s thrust to collaborate with other potential industry leaders and its incubation program, they are highlighting their commitment to help top BUIDLers transform their ideas into real projects and give them the opportunity to harness the full potential of distributed ledger technology (DLT).
Indeed, in August, Binance Labs launched a 10-week early-stage incubation program to provide startups with networking opportunities, investment and several other services.
The Binance Labs Incubation Program aims to provide resources to top early-stage teams to jump-start their best ideas by giving them seed investment of $500 000 for 10% equity or tokens, to deliver a product or service with a product or market fit.
Tsia added that the investment from Binance Labs comes as Contentos recently inked partnership deals with NEO Foundation and Ontology. The agreement with Neo Global Capital, a unit of the Neo Foundation, gives Contentos additional opportunities to look for technology-based solutions for expanding its capabilities. The partnership with Ontology allows both companies to cooperate and collaborate using their respective expertise in exploring existing blockchain application, community-building, research, and application.