Mediachain has joined the likes of OpenBazaar and Blockstack and joined the community of Blockchain startups backed by some of the most powerful venture capitalists in Silicon Valley including Union Square Venture, Andreessen Horowitz, and RRE Ventures – as well as Digital Currency Group, LDV Capital, Alexis Ohanian, William Mougayar, Kanyi Maqubela, David Lee, Mathieu Drouin and Brian Message.
This funding will enable them to further the open source development of the Mediachain platform, and to build applications and services to make it accessible to everyone.
Mediachain staffers blogged:
Early in the life of Mediachain, we were inspired by two things: the implications of Bitcoin for a new generation of completely open and decentralized data networks, and the magic of the technologies behind Shazam and Google Image Search to let us discover the creator of an image or song at the click of a button.
The problem we wanted to solve is one creators and their audiences face every single day: billions of images, songs, videos, and written works are easily shared online, yet they quickly lose connection to their creator and history or context as they are reposted.
We had a simple idea: What if the information about all media ever created was completely open, and you could instantly know everything about whatever you were viewing, watching, reading, or listening to — who made it, what it was, where it originated — regardless of how you came across it?
That’s what we’re building with Mediachain: a completely open, universal media library.
Mediachain connects media to information, through the content itself. It combines a decentralized media library with content identification technology to enable collaborative registration, identification, and tracking of creative works online. In turn, developers can automate attribution, preserve history, provide creators and organizations with rich analytics about how their content is being used, and even create a channel for exchanging value directly through content, no matter where it is.
Imagine being able to connect with the artist of a viral GIF you see in your feed, learn the history or origin of any image, or automatically reward a musician whenever you press play. Developers can build this and much more given the tools to discover and reuse information about our universal culture.
Mediachain approaches the problem millions of creators and users encounter daily in a novel way.
“What if information about media were open, and developers could utilize technology similar to that which powers Shazam or Google Image search to easily retrieve it?”
This is precisely what Mediachain is: a universal media library.
Andy Weissman from Union Ventures writes:
The protocol allows anyone to attach information to creative works, make it persistent and discoverable in a blockchain-based database. And because it is completely decentralized, there is no central point of control or failure. The data is maintained by participants of the network and no permission is required to contribute or access it, making it an ideal place for collaboration between creators, developers, platforms, and media organizations. It is applicable to any form of media – images, gifs, videos, written works, and also music.
Imagine if the monetization of media followed the content, instead of flowing from a platform. For example, being able to pay a musician directly by virtue of hearing their song play, no matter where you got it: from an mp3 in an email, via a link on Soundcloud, or even by hearing it on the radio.
Mediachain represents the type of permissionless innovation that we continue to support at USV. We are excited to be investing in Mediachain, along with a16z, RRE, and other investors to advance the sharing and programming of media everywhere.
Learn more about Mediachain:
- How Mediachain Works outlines the protocol stack
- The GIF That Fell to Earth gives a visual example of how Mediachain can preserve the identity of a creator as her GIF goes viral online
- Bringing Cultural Metadata to Life details how Mediachain can help public institutions collaborate and engage the public on cultural heritage
- What a Blockchain for Music Really Means dispels the myths and explains how to solve the music data problem
- Comcast’s Advanced Advertising Group And Participants Announce Blockchain-based Technology Platform - June 22, 2017
- Online Platform for Gamers to Release a Cryptocurrency for In-game Skins Trading; Launches an ICO - June 22, 2017
- Colu Launches Digital “Local Pound, East London” Currency to Empower Local Economies - June 21, 2017
- bitJob.io is Building a Student Employment Program on the Ethereum Blockchain – Launching ICO - June 21, 2017
- Blockchain Project Waves launches landmark USD gateway - June 21, 2017
- Status.im Raises $270m in Three Hours – Shattering Token Raise Record - June 21, 2017
- World’s First Mobile Data Exchange DENT Seeks to Disrupt Telco Market with Blockchain - June 20, 2017
- Financial Inclusion Company Everex Takes Home RemTECH Award For Ethereum Apps - June 18, 2017
- SONM Raises $42 Million in Token Raise - June 18, 2017
- WISeKey partners with the Blockchain Interface company RIDDLE&CODE to develop innovative solutions for securing IoT via Blockchain technology and crypto-hardware - June 17, 2017
- Bancor Announces $153 Million Raise, Largest Token Generation Event in History - June 17, 2017
- CORION Announces Final Coin Sale Details to Build its Revolutionary Platform & Stable-Rate Currency - June 17, 2017
- Enhancing the value of history with ZenDao – ICO announcement - June 16, 2017
- FunFair Announces Token Creation Event on June 22 for World’s Fastest Blockchain Casino Platform - June 15, 2017
- Blockchain Technology Venture Nimiq Announces Token Sale - June 14, 2017
- Outlier Ventures Makes Multi-Million Dollar Investment in Distributed IoT Marketplace ‘IOTA’ Through Major Token Purchase - June 14, 2017
- Bancor Token Allocation Event Smashes Record – Raises over $150 Million - June 13, 2017
- Consensys Introduces Omega One - June 12, 2017
- MetaX and DMA Join Forces to Launch adChain: a Blockchain Solution to Digital Advertising Fraud - June 12, 2017
- Aeternity Raises $24 million Over Phase Two of Token Sale - June 12, 2017
- HyperChain Capital announces Collaboration and Investment in CoinDash - June 12, 2017
- Community-Driven Cryptocurrency Credits Announces First Public Release - June 12, 2017
- Bancor Protocol Foundation Announces New Partners Before Upcoming Token Allocation Event - June 12, 2017
- Investors from Russia are launching a venture fund formed on blockchain - June 12, 2017
- Bancor Adds Heavyweight Advisory Team to their Foundation – Token Allocation Event Kicks off Today - June 12, 2017
- Bancor Protocol Foundation Adds Author and Euro Designer Bernard Lietaer as Chief Monetary Architect - June 10, 2017
- Russian Billionaire Announces Business Incubator on Waves Platform - June 9, 2017
- Bancor Launches Crowdfunding Valuation And Promotion Via Wings Dao On Ethereum - June 9, 2017
- Coinsilium invests in Indorse.io Decentralised Professional Network - June 8, 2017
- Cofound.it Breaks Pre-Sale Record, Selling Out With Priority Pass Before Public Token Sale - June 7, 2017
- Cofound.it Token Pre-Sale Reaches $5 Million Threshold Within Three Hours, Announces First Three Projects - June 5, 2017
- Blockchain Startup DECENT Testnet #2 Launched! - June 4, 2017
- Blockchain Challenge Dubai Announces Winners- Awarded $45,000 - June 4, 2017
- Waves Ceo Sasha Ivanov: Blockchain Will Lead To Rapid Progress Not Only In State Administration, But Also In Business - June 4, 2017
- Exscudo ICO Successfully Concluded – $5M Dollars Raised - June 1, 2017
- Aventus launches Ethereum-based Event Ticketing Solution - June 1, 2017
- Brave Token Sale Blasts Records With $35 Million in 30 Seconds - June 1, 2017
- Japanese Blockchain Startup releases VALU – Social Media Value That Can Be Traded - May 31, 2017
- MetaX and ConsenSys Announce adToken Sale June 26, 2017 - May 31, 2017
- Blockchain Indy Production Start Up to make a TV Series about the Bitcoin Revolution. Fans invest to help tell the story! - May 31, 2017
- Chat Platform Kik to Integrate Kin Token as First Mainstream Adoption of Cryptocurrency - May 31, 2017
- VPN Blockchain Startup Mysterium Network Raises 68,629 ETH ($14,358,975 USD) in under 45 minutes - May 30, 2017
- XinFin Introduces Blockchain-based Institutional Financing Marketplace Alongside Pre-ICO Token Sale - May 30, 2017
- European Energy Companies to Test Peer-to-Peer Trading Over The Blockchain - May 30, 2017
- Everex Announces Mobile Blockchain-powered Microfinance And Fiat Transfer Platform - May 28, 2017
- $3.7 Million Collected in ICO on the Waves Blockchain Platform for Construction of Production Facility in Russia - May 28, 2017
- Blockchain Startup Aeternity to Launch Phase Two of Contribution Campaign on May 29th, 2017 - May 28, 2017
- Founder and CEO of eToro, Yoni Assia, Joins Bancor Protocol Advisory Board - May 25, 2017
- Blockchain Startup Exscudo Rolls Out EON Source Code On GitHub - May 24, 2017
- Blockchain Startup Binded Raises $950k in Seed Round to Democratize Copyright - May 24, 2017