Creaton Raises $1.1 Million from Tykhe Block Ventures, BTSE Labs & Others
Creaton, a decentralized, subscription-based content sharing network, announced today that the platform has received a total of $1.1 million in funding on October 7th in Sheridan, Wyoming, from investors including BTSE Labs, Tykhe Block Ventures, and other angel investors.
Powered by Polygon, the Creaton platform is a Web 3.0 platform for subscription-based content sharing in which artists retain complete ownership and control over their work.
Creaton is Making it Possible
Artists on Creaton, in contrast to many other similar sites, may accept paid memberships from their followers and be repaid in bitcoin for their work.
Unlike the conventions of ordinary Web 2.0 content sharing platforms, Creaton artists retain entire ownership of their work as well as the remuneration they receive from them.
To protect the content, it is encrypted and stored on Arweave using the Lit Protocol, which is supported by decentralized storage on Arweave. Therefore, the team will be unable to alter or even view the material unless the originator gives permission.
Artists can restrict access to their works to a limited and exclusive audience by integrating smart contracts and various blockchain technologies, so preventing arbitrary prohibitions, censorship, and payment delays, among other things.
Through Superfluid’s streaming payment mechanism, the Creators can make money from the subscriptions of their followers, which are instantaneously converted to bitcoin by the platform.
Explaining the motive behind Creation, the founder Alexander Klus said that their goal is to liberate artists from the Web 2.0 shackles that have been unjustly placed on them in recent years.
To wit,
“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.”
According to Prashant Malik – Founder of Tykhe Block Ventures and a former member of Facebook’s first ten workers, Creaton is the driving force for content producers in ways that have been never seen before via the use of decentralized blockchain technology.
“We are really looking forward to seeing the Creaton team focus their efforts on fuelling the next generation of the Creator Economy,” the founder concluded.
About Creaton
Creation is a decentralized content subscription platform (similar to the Web3 Patreon) that empowers artists to directly monetize their community through subscriptions to their work.
In order to create a Web3 creative platform that actually works, Creaton is merging Polygon smart contracts, Arweave storage, Lit Protocol encryption, and SuperFluid payments with other technologies.
About Tykhe Block Ventures
Tykhe Block Ventures is a well-known investment business with its headquarters in Singapore. With a great location in Asia, and loads of local talent, the company is sure to grow from here.
The company was founded in the year 2021. It is led by Prashant Malik, a founding member of Facebook’s engineering team who is well-known for building and open-sourcing the Facebook API and for his work on the social media platform.
Apache Cassandra is a distributed database system developed by Apache Cassandra, and it is pretty cool. There is a lot of new tech entering the blockchain space, and Apache Cassandra is worth watching.
With a specific emphasis on decentralization technologies, digital assets, and supporting infrastructure, its business plan is to engage in initiatives and retain liquid assets in the blockchain sector.
There is zero doubt that blockchain platforms are here to stay – but the real question emerges – where do the use cases stop?
The post Creaton Raises $1.1 Million from Tykhe Block Ventures, BTSE Labs & Others appeared first on Blockonomi.
OhNoCryptocurrency via https://www.ohnocrypto.com/ @Nicholas Say, @Khareem Sudlow
