Dallas NFT-powered streaming pioneer Rad raises more funding in follow-on round » Dallas Innovates

Dallas-based Rad, the first NFT-based streaming service offering a unique blend of entertainment and technology for the web, secured significant funding in a follow-on round led by Ayre Ventures and announced the use of BSV announced that it has been incorporated. Incorporate blockchain into transactional video-on-demand and open or limited edition his NFT video publishing and purchase flows.

Rad also said that to facilitate payments, it has integrated with HandCash, a leading mobile and web wallet that allows users to connect to apps, games, and websites and stream money directly.

This allows users to create and purchase content on Rad without the need for browser plugins, and allows Rad to be easily extended to other payment formats.

“Rad is expanding the integration of blockchain technology with real-world use cases, and realizing it in a way that creators and viewers don't have to think about,” Rad CEO Tony Mugavero said in a statement. I'm excited about it.'' “Who published content, who bought it, and who received compensation should all be transparent, immediate, and verifiable by all parties. This reduces legal and accounting overhead. , provides an additional layer of trust that wasn't present in the streaming companies' black boxes.”

What's in the new release?

Rado said this product release and new investment creates an unparalleled opportunity for creators and studios to release content to major streaming devices.

It says content creators and studios can upload videos to Rad, set all related metadata on the video, fix prices, and set any number of revenue shares and royalties to multiple recipients. He says he can now do it.

This means that actors, musicians, agents, and anyone else who receives payments from the sale of content can receive payments directly.

The launch of the platform will allow actors and writers to receive payment for their work instantly and transparently, and will eliminate the contractual, legal and accounting mechanisms involved in selling premium content online. He said it would be redefined.

The company said that while native blockchain currencies will initially be used for issuance and payments, all types of payments, as well as payments to traditional fiat currencies, will be supported in the future.

“Ensuring a fair shake for all.”

Calvin Ayre, founder of Ayre Ventures, welcomed the development.

“The recent Hollywood actors and writers strike demonstrated the importance of renewing rights contracts in parallel with changes in technology to ensure creators are appropriately compensated for their efforts.” Eyre said in a statement. “Ayre Ventures is pleased to support Rad’s continued efforts to demonstrate the pivotal role that enterprise blockchain technology can play in these efforts. Transparency is the best way to ensure a fair shake for everyone.”

Rad said that for the gas price of a single transaction on Ethereum, 500,000 videos can be created on the BSV blockchain.

He said leveraging blockchain to ensure payment transparency and immediacy is not prohibitively expensive.

“This is a solution to the lack of transparency and fair pay in the streaming business, which has led to writers and actors' strikes and creators leaving social platforms as they struggle to pay their bills,” Mugavelo said. It happened,” he said. “At major film studios, hundreds of lawyers and accountants shuffle money between departments, and countless middlemen and agencies take a slice of the pie, making sure everyone gets paid their fair share. There is no easy way to guarantee this. Blockchain solves this problem, returning ownership to people while enabling instant payments to the appropriate recipients.”

Expanding the frontiers of digital content

Rad said it can be accessed on multiple devices including PlayStation 5, PSVR, Oculus Quest, iOS, Google TV, and more. The company said it is working with industry giants such as Google, Sony, Disney, Viacom and NBCUniversal to reimagine content distribution for the modern era.

Rad's business unit is focused on leveraging blockchain, VR/AR, and streaming technologies to create unique and engaging experiences for brands, creators, and filmmakers in digital content and interactive experiences. We're pushing the boundaries of what's possible.

One example is the company's work in 2021 in an auction conducted by DKNY, which auctioned off the first AI-generated video NFT featuring its new logo. The auction benefited the American Nurses Association and was the first in the fashion industry to offer the opportunity to own unique digital iconography from a globally recognized brand.

Focus on BSV blockchain related business

Ayre Ventures funds scalable, high-growth businesses within the BSV blockchain ecosystem, the only enterprise public blockchain that can scale infinitely. The company said it is targeting investment in innovative ideas and ambitious projects that are “positively disruptive” and is supporting expansion with the group's extensive network and industry partners.

In 2022, Ayre Ventures, the venture capital arm of Ayre Group, will make a significant investment in Rad, which was launched in the middle of the last decade under the name Littlstar, a streaming network focused on virtual reality (VR) video content. announced.

Littlstar has been a launch partner for major VR devices and headsets including Google Daydream, PlayStation VR, and Oculus. Littlstar also had content deals with major film and television studios, including Fox, NBCUniversal, Disney, and Viacom.