Through a financial investment, Sam Bankman-Fried, the CEO of heavyweight crypto exchange FTX, has issued his support for Trustless Media, a firm that is making NFTs for the programs that it develops and produces. The Web3 outfit has also seen financial backing from the likes of Ava Labs and Megan Kaspa, which in turn, has led to it generating over $3.25 million in investment.
The investors evidently see value in Trustless Media’s innovative funding and ownership strategy, which involves allowing people to freely buy NFTs in order to own a stake of the shows they produce. Of course, stakes will only become properly realized if, or when, a show reaches air.
Through this, the creative development side of cinematic productions is ultimately opened to the public, which in doing so, may help alleviate the primordial issue of commissioners, nor viewers, not always knowing what they want.
Aptly, the first in-development show from the media house is ‘Coinage,’ a Web3 news show that’ll be hosted by one of its leading figures Zach Guzman, the former CNBC and Yahoo Finance reporter. After the first season airs, Trustless Media will mint a 9,000 asset NFT collection called ‘Caucus’. Proceeds from the mint will go towards the funding of the show’s future seasons. There will also be free ‘Subscriber NFTs’ up for grabs.
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*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.
The post FTX CEO Among Those Backing NFT-Leveraging Media House appeared first on NFT Plazas.