AlphaNetworks wants the global broadcast sector to run on blockchain. If successful, this will be a very important first step in the media industry. According to a press release, the firm raised USD $10 million. In detail, the news release says the funding comes from Alphabit Digital Currency Fund. Further, other firms took part in the funding. They include Shuttle Fund of South Korea, Smart Contract of Japan, and other major crypto investors. The funds will go towards developing a blockchain-powered media platform.
Transparency for Better Returns
Clearly, AlphaNetworks is company on a mission. The firm itself is a “blockchain-powered entertainment platform.” In addition, it incorporates artificial intelligence (AI) and cognitive science in its platform. This way, the company is able to offer audience analytics powered by AI. Furthermore, AlphaNetworks leverages blockchain technology to increase transparency on the platform.
According to the press release, a transparent platform ensures higher returns for creators and media companies. Furthermore, the company adds that the media platform will launch in 2019. Specifically, the report reveals that the launch will happen in the second quarter.
AlphaNetworks is a media platform with many services under its command. As of now, the company boasts over 25 services. Among the services are TiVo and NFL Sunday Ticket Interactive. Considering their market share, the services are very popular with subscribers. Importantly, the platform is under the leadership of Seth Shapiro.
In addition, the platform has a Proof-of-Engagement (PoE) that “tracks interactions between consumers” and advertisers. As a result, all stakeholders get a transparent insight into the behavioral pattern of the consumers. Basically, this means viewers get the best deals available while content providers get fair compensation.
Blockchain-Powered Media Platform is the Next Wave of Media Disruption
Shapiro is a former Television Academy Governor. Additionally, he has two Emmy titles under his belt. Commenting on the developments, he said,
“It’s fashionable to talk about how much the media business is being disrupted—as if this was something new.”
According to him, media disruption is old news. Particularly, new technologies like cable and broadband changed the media landscape fundamentally. Therefore, he asserts AI and cognitive science are the next disruptors of the media landscape. “…forces like blockchain and distributed ledger technology… will unleash unprecedented opportunities for creators, consumers, and advertisers,” he adds.
On the other hand, Alphabit Fund considers the opportunity to work with the AlphaNetworks team very important. According to the Fund’s CEO, AlphaNetworks has an, “incredible roadmap for building the next generation of media infrastructure.”
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