Decentralized Content-Sharing Platform Creaton Raises $1.1M from Tykhe Block Ventures, BTSE Labs, and Others
Creaton, the decentralized, subscription-based platform for content sharing, has raised a total of $1.1 million from BTSE Labs, Tykhe Block Ventures, and other angel investors.
Creaton is a Polygon-based Web 3.0 platform for subscription-based content sharing, where creators will have full ownership and control over their own content. Unlike many other similar platforms, Creaton creators can accept paid subscriptions from their fans and earn cryptocurrency rewards for their content.
Going against the established practices of Web 2.0 content sharing platforms, Creaton creators have full control over their content and payments. Content is secured as an NFT contract, backed by decentralized storage on Arweave and encryption through Lit Protocol. This means that the team cannot alter or even see the content without the creator’s consent. Thanks to the combination of smart contracts and multiple blockchain technologies, creators can keep their assets to an exclusive and selected audience, as well as avoid unjustified bans, censorship, and payment delays.
The Creators can source revenue from their fans’ subscriptions, which is immediately transferred to them as cryptocurrency thanks to Superfluid’s streaming payments system.
“Our mission is to throw off the shackles of Web 2.0 that have been so unfairly imposed over creators in recent years,” said Alexander Klus, Founder of Creaton. “Between payment issues, bans, and censorship, Web 2.0 platforms like Patreon have done a disservice to their core users. We aim to tackle this issue in a way that makes sense, combining multiple advanced blockchain technologies to make a platform that, for the first time, works. We are incredibly excited to build this with our amazing roster of investors.”
“The thing we like about Creaton is that it empowers content creators like never before using decentralized blockchain technology,” said Prashant Malik, Founder of Tykhe Block Ventures and previously among the first 10 Facebook employees. “We are really looking forward to seeing the Creaton team focus their efforts on fuelling the next generation of the Creator Economy.”
About Creaton
Creaton is a decentralized content subscription platform (like a Web3 Patreon), enabling creators to monetize their audience directly and without interference. Combining Polygon smart contracts, Arweave storage, Lit Protocol encryption, and SuperFluid payments, Creaton is building a Web3 creator platform that actually works.
About Tykhe Block Ventures
Tykhe Block Ventures is a leading investment firm founded in 2021 and based in Singapore. It is led by Prashant Malik, one of the early engineers at Facebook and widely known for creating and open-sourcing Apache Cassandra and its business consists in investing in ventures and holding liquid investments within the blockchain sector, with a focus on decentralization technologies, digital assets, and the supporting infrastructure.
Read more: https://dailycoin.com/creaton/
Text source: DailyCoin.com
