ROW8 acquires Rad to power its VIP movie streaming service with NFTs
The web3 and metaverse streaming platform Rad has been acquired by ROW8. The latter is a premium film streaming service that offers the latest Hollywood productions. Examples include Bullet Train with Brad Pitt, Ticket to Paradise with George Clooney, and Black Adam with Dwayne “The Rock” Johnson.
The Merger will allow ROW8 to expand its extensive film catalog
Rad has been developing immersive streaming technology and managing smart contracts for over 5 years. With the merger, the two companies will collaborate on leading NFT projects in the web3 and metaverse.
According to Jasmina Christoph, founder and president of ROW8, Rad’s web3 authoring toolset will make ROW8’s platform the preeminent destination for digital artifacts and the best movies.
Tony Mugavero, CEO of Rad, believes that with its patented technology, breadth of applications, and close ties to the world’s biggest studios, ROW8 is unquestionably the company best positioned to lead Hollywood into the future. He adds that ROW8 has the largest content pipeline in the entertainment industry.
He also believes that because both companies work with the same Web3 and XR studios, Rad will be able to accelerate the adoption of innovative distribution methods from trusted sources.
ROW8 continues to Innovate and Grow
ROW8 offers more than 1,800 theatrical films and has streaming partnerships with all major film companies. These include Disney, Universal, Warner Brothers, Paramount Pictures, and Sony Pictures Entertainment.
In addition, the patented technology used by ROW8 allows viewers to be geo-located and revenue to be shared with neighboring cinema chains. It also features dynamic “scene alerts” that inform viewers when a scary or adult scene is imminent. The technology also includes a “Movie Love Guarantee” feature, which allows viewers to trade one movie for another if they don’t like it.
Rad: The perfect partner for a wedding
Although this is not the first time that NFTs are incorporated into movies, with the largest example being the Lord of the Rings NFT movie collection, it still represents a major breakthrough.
Rad has worked with several major studios and broadcasters around the world to license content or enable experiences in VR (Virtual Reality) and Web3. The company also offers streaming apps on PlayStation 4 and 5, Android TV, iOS, and Meta Quest.
In fact, Rad has established a leadership position in the VR space by distributing content on platforms such as PlayStation VR, HTC Vive, and Windows Mixed Reality. It launched its full NFT Stream Pass in December 2022 and was the first streaming service to offer an NFT subscription.
In addition, Rad has worked on NFT releases directly with artists such as Elliot Sloane and rapper Calboy, as well as retailers such as DKNY, Hacksmith, and Cinedigm. Together with ConsenSys, Rad has developed the Ara platform based on the blockchain crossed with the Ara token. It is this platform that will power the ROW8 NFT platform. In addition, Rad has a large number of well-known studios and media investors, including Gary Vaynerchuk, A + E Networks, WWE, Sony Innovation Fund, and Disney.
Ayre Ventures arranges Funding Round for the Project
In a funding round led by Ayre Ventures, both companies received investment. Calvin Ayre, the founder of Ayre Ventures, hailed the acquisition as “an ideal convergence of content and delivery.”
In other words, Rad’s BSV-based NFTs will help ROW8’s vast library of branded content find new ways to connect with consumers. Indeed, only a blockchain with the ability to scale and extremely low transaction costs can fulfill the promise that web3 holds for creators, distributors, and consumers, he concluded.
The participants in the round are:
- An investor from Dapper Labs and Triller: Intersect VC
- Richard Seymour’s 93 Ventures
- Alvin Kwan, former head of development at Fox and board member of Fubo TV
- Rusty Matveev, CSO of Calaxy and former partner at MSG Ventures
- A former quarterback of the Washington Redskins and the Oakland Raiders: Jason Campbell
In addition, Paul Rajchgod, Managing Director, Private Equity for Ayre Ventures, will be appointed to the ROW8 Board of Directors following the acquisition.
