BTC Media, one of the largest media groups in the blockchain and cryptocurrency industry announced the launch of BTC Labs ( September 25, 2017). It’s a venture studio that focuses on launching and blockchain applications for the digital media industry.
As a result, BTC Labs launched “Storyboard Ventures”, a venture financing arm of the organization. It seeded with $2 million to fund promising media projects. Storyboard Ventures will constantly search for entrepreneurs who are “building use cases that leverage decentralization to disrupt longstanding inefficiencies” within the digital media industry.
Jeremy Kandah, Storyboard Venture’s Portfolio Manager claimed:
“The internet drastically altered how we consume and distribute information, but the media industry has failed to adapt its underlying business model.”
Additionally she said: “Blockchain technology is revolutionizing the way that digital information is transacted, creating a host of new monetization models and connecting content creators directly with consumers. Therefore, Storyboard Ventures will support the projects and pioneers shaping this media landscape of the future.”
BTC Labs had another innovative idea that came into life on November 1, 2017. Their second project is called “MAD Network”. It is a decentralized ecosystem for the ad tech industry. Its aim is to return lost value to advertisers and publishers. Most of all, the project will become the programmatic advertising platform within BTC Labs’ decentralized media suite.
Blockchain technology allowed increased innovation. As an outcome, it resulted in more equitable ways of sharing data and exchange in value. Also Media industry can take advantage of these blockchain technology’s benefits. Now it’s possible to tackle numerous issues, including intellectual property registration, licensing, ticketing ad-tech, and content monetization.
BTC Labs’ aim is to support disruptive, open-sourced and decentralized networks. This way, every stakeholder can retain the fair value of their work inside a decentralized network. In addition, the innovation studio will develop such networks to empower not only consumers and brands but also content creators.