Rad Announces New Funding from Ayre Ventures; Plans to build a cross-blockchain NFT management platform on the BSV blockchain
ST. JOHN’S, Antigua And Barbuda, March 21, 2022 /PRNewswire/ — Rad, the Innovative NFT Streaming and Content Distribution Platform, Secured Significant Funding in Round Led by Ayre Ventures; Intersect VC, which are investors in Dapper Labs and Triller; former New England Patriots Super Bowl champion and 93 Ventures Pro Bowler Richard Seymour; Alvin Kwanformer head of corporate development at Fox and board member of Fubo TV; Rusty Matveev, who is CSO at Calaxy and former partner at MSG Ventures; Revere VC; and Jason Campbellformer Washington Redskins and Oakland Raiders quarterback.
Rad recently launched NFTV, redefining video streaming by combining leading content creators and studios with future foundational technologies like web3, blockchain, and virtual and augmented reality (XR). It is the first network to make NFTs accessible via a rapidly expanding network of over 500m devices worldwide, including Sony PlayStations 4 and 5, Android TVs and Apple platforms. Rad currently offers an unprecedented array of Gen Z-focused entertainment spanning games, music, video-on-demand, live events and sports. Rad has content deals with companies like Disney, NBCUniversal, Fox, Showtime, Warner Brothers, Sony, Complex Magazine, Whistle Sports, Cinedigm, Esports TV, Anthem Sports & Entertainment and hundreds of others, and the largest content trusts it. and hardware companies around the world.
Rad’s streaming platform is powered by Ara, which is a P2P ecosystem for content creators that uses an Ethereum-based (ARA) token for governance, incentives, and royalty staking for NFTs sold through their platform. The platform is designed to integrate many channels and will make the discoverability of content and NFTs across channels more efficient and accessible to creators and consumers. Rad’s integration of the Bitcoin SV (BSV) blockchain will include support for BSV-based NFTs with on-chain storage of large NFT files, including full-length movies, video holograms, and AR/VR content. Rad will also leverage the low-cost, large-scale ability of the BSV blockchain to manage and track NFTs across multiple chains.
Ayre Ventures joins existing investors The Tornante Company which is by Michael Eisner fund, Sony Innovation Fund, A+E Networks, WWE, Warner Music Group and Disney through the Disney Accelerator.
Commenting on the funding round, the CEO of Rad Tony Mugavero noted:
“Rad couldn’t be more excited to partner with Ayre Ventures and support the BSV ecosystem. Consumers who buy and creators who make movies, XR and music videos using blockchain-based technologies need low-cost, high-throughput transactions that complement the high-performance streaming” mentioned Tony Mugavero, CEO of Rad. “Blockchain technology should be largely transparent to consumers and creators, and they will always opt for the most cost-effective and high-performance option, which the BSV blockchain solves for.”
Rad CMO Brooklyn Earick added:
“We’re excited to offer our users a fast, low-cost option to scale to an enterprise level on Rad. We envision a future where creators can tokenize everything, digital and IRL, to fund content creation, art collections and more. BSV will enable our users to both think long-term and run fast without worrying about gas costs that day.”
Founder of Ayre Ventures Calvin Ayre commented his group $1.5 million investment in Rad, saying:
“BSV is the perfect home for forward-thinking companies like Rad that have overcome the constraints imposed by other public blockchains. I am thrilled to partner with Rad as they push the boundaries of what a streaming platform has to offer and cater to the public’s insatiable demand for an ever-growing variety of digital entertainment options.”
Rad has previously secured investments from a number of high profile entities including A&E Ventures, Sony Corporation of America, Sony Music Entertainment (Japan) Inc., Warner Music Inc. and World Wrestling Entertainment, Inc. Rad’s media partners include Disney, Fox, NBCUniversal, ViacomCBS and Warner Music.
Rad is redefining streaming for the modern era with NFTs, on-demand, live events and TV featuring the world’s biggest content creators and studios; all powered by future fundamental technologies like blockchain and XR. Discover the best in music, movies and TV, comedy, sports, games and more! Rad supports on-demand, live, holograms, 180°, 360°, 3D content, and NFT (non-fungible token) collectibles. Watch thousands of hours of content, join watch parties, buy limited-edition NFTs, get XR experiences, and collect crypto rewards.
Find out more at rad.live and download our iOS, Android TV, PlayStation 4, PlayStation 5 or PSVR apps.
About Ayre Ventures
Ayre Ventures, founded by a famous entrepreneur and philanthropist Calvin Ayre, provides capital to scalable, high-growth businesses within the BSV blockchain ecosystem, the only infinitely scalable public enterprise blockchain. The Group targets investments in innovative ideas and ambitious projects that are “positively disruptive”, supporting their expansion with the Group’s extensive network and industrial partners.