LOS ANGELES, Dec. 21, 2022 /PRNewswire/ — ROW8, the Premium Movie Streaming service featuring the latest Hollywood movies like Black Adam with Dwayne “The Rock” Johnson, Ticket to Paradise with George Clooney and Bullet Train with Brad Pitt, has acquired the metaverse streaming platform and web3 Rad. ROW8 has premium video-on-demand movies from all the major studios on its platform, and all of its studio partners explore NFTs in some way. Rad has been developing immersive streaming technology and leveraging smart contracts for over 5 years, and has many of the same studio partners for VR and blockchain-based content. Combined, the two companies will work with the top studios and top NFT projects for web3 and the metaverse.
“Rad’s web3 creator toolset along with ROW8’s Hollywood movie library will make our platform the premier destination for both digital collectibles and your favorite movies,” said Jasmina Christoph, ROW8 Founder and President.
“ROW8 is easily the company best positioned in the world to lead Hollywood into the future, with its proprietary technology, app footprint and deep relationships with the world’s largest studios,” said Tony Mugavero, CEO of Rad. “They have the highest level content pipeline you can have in the entertainment industry, and Rad works with the same studios on web3 and XR, which means we can accelerate the adoption of forward-thinking distribution from one place of trust”.
ROW8 has streaming agreements in place with all the major movie studios, including Disney, Universal, Warner Brothers, Paramount Pictures, Sony Pictures Entertainment, and offers over 1,800 theatrical release movies. ROW8’s proprietary technology includes the ability to geo-locate viewers and share revenue with nearby theater chains, dynamic “Scene Alerts” to let viewers see if the next scene is scary or has adult themes, and its “Movie Love Guarantee” property that allows viewers to return a movie and exchange it for another if they were not enjoying it.
Rad has broadcast innovative content with all the major studios and broadcasters globally by licensing content or powering experiences in VR and web3, and has streaming apps on PlayStation 4 and 5, Android TV, iOS and Meta Quest, and has built a global leadership position in VR, delivering content to devices like PlayStation VR, HTC Vive and Windows Mixed Reality. Rad was the first streaming service to offer an NFT subscription and will launch its full NFT Stream Pass in December 2022. Rad has made NFT releases with companies like DKNY, Hacksmith, Cinedigm, and directly with creators like Elliot Sloan and platinum rapper Calboy. Rad also worked with ConsenSys to build its cross-blockchain-based Ara platform with the ARA token, which will power ROW8’s NFT platform. Additionally, Rad has numerous investors from well-known studios and media such as Disney, Sony Innovation Fund, A+E Networks, WWE, Warner Music Group, Gary Vaynerchuk, and more.
Tony Mugavero will become CEO of the combined companies and the Rad leadership team will remain as part of the transaction.
“We couldn’t be more excited to join forces with ROW8,” said Brooklyn Earick, Rad’s chief marketing officer, who will remain as chief strategy officer post-acquisition. “Combined, we will be the first platform to offer movies like Avatar and Top Gun alongside NFTs from Hollywood studios and web3 creatives.”
The combined companies have secured funding in a round led by Ayre Ventures.
Ayre Ventures founder Calvin Ayre welcomed the acquisition, calling it “the perfect marriage of content and delivery, the intersection of readiness and opportunity. ROW8’s vast library of marquee content will uncover new ways to reach consumers through Rad’s BSV-based NFTs. BSV is the only blockchain with the scalability and ultra-low transaction fees to realize the promise that web3 holds for creators, distributors, and consumers.”
Also participating in the round are Intersect VC, who are investors in Dapper Labs and Triller; 93 Ventures from former Super Bowl champion New England Patriot and professional bowler Richard Seymour; Alvin Kwan, former Fox Head of Corporate Development and Fubo TV board member; Rusty Matveev, who is CSO at Calaxy and a former partner at MSG Ventures; revere VC; batteries; and Jason Campbell, former quarterback for the Washington Redskins and Oakland Raiders.
Upon completion of the acquisition, Paul Rajchgod, Managing Director of Private Equity at Ayre Ventures, will be appointed to ROW8’s Board of Directors.
Rad NFTV is the first streaming platform powered by NFT. Rad’s suite of apps allows you to stream live TV, premium video, and live events, all unlocked via NFT. Discover esports, music, comedy, and sports entertainment content from companies like Complex, Whistle, CoinDesk, DeadHeads, Knights of Degen, and Virtue Animation Studio. Rad NFTV’s library of fast and strong content, NFTs, crypto rewards, and OTT footprint creates a streaming metaverse for the next generation of creators and fans.
The platform can deliver a wide range of NFTs and content experiences, including 2D, 3D, 4K, Live, 360°/180° VR, and traditional video on devices like PlayStation 5, PSVR, Oculus Quest, iOS, Google TV, and more. . viewers can win WE BOUGHT rewards and become peers on Ara’s blockchain-powered network and P2P networking technology, and the company’s Rad Pandas can be used to unlock lifetime subscriptions for additional ARA rewards.
ROW8 is an exclusive non-subscription movie OTT service featuring new and back catalog titles and has distribution agreements with major Hollywood studios. It also features its own “Movie Love Guarantee” that allows customers to return their movie within the first 30 minutes and exchange it for another one at no additional charge, and its patent-pending “Scene Alert” monitoring system that Alerts parents to inappropriate scenes before they air. , giving them control over the content their children see.
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