One of the major crypto exchange Binance invests into new decentralized content project Contentos via one of its division – Binance Labs.
The co-founder of Contentos commenting on the reasons for new project mentioned the strong need for creation of a decentralized content environment that may feature transparent and fair monetization of the content that would not be censored or even deleted by third parties.
Contentos project is happy with the Binance decision to make investments, especially given that Binance Labs is famous for its interest and participation in different blockchain projects. The company said that Binance funds may be used for modernization of storage and monetization of digital content as well as blockchain ecosystem available for all users.
Contentos CEO Mick Tsa stated:
"The Contentos team is thrilled to have the support of Binance Labs in pursuing our goal to revolutionize the preservation and monetization of digital content..."
For now, Contentos has managed to launch three projects - LiveMe, PhotoGrid, and Cheez.
In such a way Binance Labs strives to support leading crypto businesses and blockchain sector. For reference, the company launched an incubation programme for startups in August. The programme lasted 10 weeks and covered business assistance, financing and other help.
"We are dedicated to identifying the real use cases to implement blockchain technologies. There’s a clear pain-point to be solved in the content creation industry, and we see Contentos is the right team with critical resources to solve the problem," commented Ella Zhang, Head of Binance Labs.
Binance Labs joined Ontology and NEO Foundation which made investments earlier.