Binance Labs has invested multi-million dollars in a startup Contentos, a decentralized global content ecosystem. Launched by the world’s largest cryptocurrency exchange by trading volume Binance, Binance Labs is a fund that invests in projects that are using blockchain technology to transform diverse industries.
Contentos is a public blockchain project specifically designed and built for the global digital content industry. It aims to provide a decentralized ecosystem for content creators and resolve major challenges that centralized content platforms face today, such as content distribution, monetization, authentication, and copyright management. Contentos aims to empower creators by monetizing their content and encouraging collaboration with advertisers, fans, and other creators as well as rewarding positive contributions to the community.
Mick Tsai, CEO and co-founder of Contentos said:
“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. The Contentos team is thrilled to have the support of Binance Labs in pursuing our goal to revolutionize the preservation and monetization 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, said:
“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. Through direct investments, collaborations with other industry partners, and the Labs incubation program, Binance Labs is committed to helping top BUIDLers jump start their ideas and realize the full potential of blockchain technologies."
Recently, Contentos also announced partnerships with Ontology and NEO Foundation. Contentos’s partnership with Ontology acts as a collaborative effort to use both companies’ expertise to expand upon existing blockchain research, application development, and community-building. With the NEO Global Capital partnership – a subsidiary of the NEO Foundation, Contentos will explore technology-based solutions for developing capabilities.
Binance Labs is always on the lookout for blockchain projects that are ready to make the world a better place. In a recent post, it said that Africa presents the next big investment opportunity in crypto. It continues saying that in Sub-Saharan Africa, only 43% of people aged 15+ own a bank account versus a global average of 69%. In some areas such as South Sudan the ratio is as low as 9%. Access to financial services for saving, borrowing, and protection will provide the capital to fund entrepreneurs, provide a safety net for retirement planning and provide disaster relief and that will form the backbone to the modernization of African economies.