FTX CEO Sam Bankman-Fried backs Trustless Media. A company that issues NFTs for programs it develops and produces. The company, which describes the concept as “NFTV,” has raised his $3.25 million to crowdfund Web3 programming.
With continued skepticism and vigilance towards cryptocurrencies and NFTs, many see the underlying technology as disruptive. Trustless Media’s system allows buyers to purchase tokens to fund shows in development. Finally, we will publish the creative development process.
Producers have long lamented that commissioners don’t know what they want, or worse, what the public wants. It will be able to hear how the money is going, and as a result, it could help the commissioner decide what to put the money into.
Fans of the idea will own a portion of the show if it airs.
Web 3’s concept, compared to Web 2’s Indiegogo and Kickstarter, is the next generation. The startup is led by former CNBC and Yahoo Finance reporter Zack Guzman.
The first show Truthless Media plans to release is Coinage, a Web3 news program hosted by Guzman, due out this fall.
After the first season ends, Trustless Media will create a 9,000-piece NFT collection called Caucus. This is meant to fund the show’s future while setting the direction of the story. “Subscriber NFTs” will also be available, but these can be created for free. The company plans to avoid artificially inflating the token’s value in order to stop large price fluctuations.
“With a lot of NFT drops, they feel like they are focused on minting, which drives the price up. These days, creators choose who can mint or who the first NFT goes to. We had some drops to make,” Guzman said. he told TechCrunch. “There isn’t a lot of transparency there, and it doesn’t lean too much toward decentralization. So the Trust Experiment is trying to build how communities trust each other.”
Along with Bankman-Fried, other members who participated in Trustless Media’s seed round include Ava Labs and Megan Kaspar, founding member of fashion entity Red DAO.
Another company looking to streamline and fix some of the processes negatively associated with Web 3 is cryptocurrency exchange Billium.
Just as Trustless adds another level of value to NFTs, Billium is also promoting the fact that one can start trading cryptocurrencies without understanding the cryptocurrency or its analytical tools. It is marketed as different from other exchanges.
The highly competitive cryptocurrency exchange ecosystem is starting to navigate a world of constant turmoil.
Ilya Angelov said of the current market: New cryptocurrency exchanges will have to deal with the fact that this is a highly competitive business sector. And to stand out in some way, we had to offer something unique and we offered copy trading and people loved it.
“With this ‘NFTV’ concept there is also a level of disruption and relevance to the TV sector that could prove fruitful. We see confusion everywhere, but sometimes people decide to focus solely on cryptocurrency pricing when there are so many other areas to focus on. ”
Billium is fully regulated in Dubai, United Arab Emirates
United Arab Emirates
Billium is licensed in Europe and aims to reach 100,000 active users in Turkey and Russia while continuing work on $BIL.
Both Truthless and Billium recognize that digital security needs must come first to ensure success of all kinds through user trust. As the world realizes that Web 3 fraud is prevalent in certain regions, businesses are becoming ever more cautious and doing more due diligence to combat fraud.
With so many powerful ideas getting lost, the mess in TV development is certainly necessary. It harms not only producers, but also broadcasters. Gaining audience insight early on helps your audience and helps keep your production company alive.