Blockchain diversion organization, AMP Global, raises $5.6 million to grow its watch-to-procure offering

Blockchain entertainment company, AMP Global, raises $5.6 million to expand its watch-to-earn offering

AMP Global Technologies, a blockchain-based video amusement stage, has raised a $5.6 million seed round, with a $2 million speculation from MaC Venture Capital, as per an assertion from the LA-put together VC firm with respect to Tuesday.

Founded by Ghana-conceived CEO, Derrick Ashong, AMP Global is the mind behind the Take Back The Mic application, an intelligent substance stage that permits content makers to construct an immediate relationship with their crowd and rewards watchers for their commitment. Content on the stage is made generally by impending rappers, craftsmen, and entertainers. Fans trade focuses for AMP’s advanced money, Kola, which is based on an ethereum-viable blockchain, to purchase portable information. By doing this, AMP can get an enormous crowd of youngsters online to stream its shows regardless of the high cost of versatile information in Africa.

“The same way other blockchain companies are doing play-to-earn, you can call what we are doing watch-to-earn; the more a user engages with our content, the more digital currency the user earns to stay online, Ashong told TechCabal in an interview. “Our goal is to build high-end and impactful content that is rewarding for the users through an interactive platform.”

A series made by AMP Global, Take Back the Mic: The World Cup of Hip-Hop, was perhaps its earliest move at making content intelligent and simple to worldwide organization. Notwithstanding being AMP Global’s most memorable fan-organized series, it proceeded to turn into a double cross Emmy finalist for Outstanding Interactive Program, for its utilization of profound commitment with media impressions and ROI across versatile, computerized, VR, and live media.

In 2020, during the worldwide pandemic, Ashong based on his underlying accomplishment with his double cross Emmy-designated advanced series, The World Cup of Hip-Hop, to send off the main time of an Africa-centered advanced intuitive TV series, The Mic Africa.

The Mic Africa will be Africa’s very first intuitive TV series where watchers, using their TBTM applications cast, curate and decide the result of the show beginning to end. The show appeared with 6 nations contending. Before the year’s over, that number expanded to 10. Today, the show is communicated in north of 20 nations, including Nigeria, Ghana, South Africa, Rwanda, Mauritius, and Kenya and has assisted AMP with winning the 2021 Gold and Silver Telly Awards inverse Netflix, HBO, and Disney+; and the Murex D’Or grant in March 2022 for International Innovative Media.

AMP Global’s new subsidizing is made out of two sections. It raised $3 million from companions, family, and private backers; and $2.6 million from VCs, with VC firm MaC contributing $2 million to the raise. Macintosh has invested with Fast Company’s 10 Most Innovative Companies in Hollywood, MACRO, which has, since its send off in 2015, gathered 15 Oscar designations and 3 wins.

“The decision to partner with AMP Global Technologies was a simple one. AMP is a unique platform that not only leverages blockchain technology to incentivise users to access and engage with award-winning content via its play-to-earn model, it also champions and provides monetisation opportunities for creators, distribution partners, and global brands. I’m proud to work alongside a team that focuses on the mutually beneficial relationship between technology, culture, and entertainment,” MaC Managing General Partner, Marlon Nichols, said in an articulation.

“Marlon Nichols’ impact on Silicon Valley cannot be overstated, while (General Partner) Charles D. King’s influence in Hollywood needs no introduction. As a company squarely at the nexus of technology and entertainment, we’re honoured and excited to get to work shoulder-to-shoulder with our role models,” Ashong said in an explanation.

With this subsidizing, AMP Global plans to make a big appearance its Gateway to the Internet program, which permits clients to purchase portable information with its blockchain-based computerized cash that they procure through their commitment with content in the Take Back the Mic (TBTM) application. Last year, AMP Global announced plans to leave on this program and furthermore communicated goals to cooperate with media transmission organizations, incorporating 9Mobile in Nigeria, Kenya Telkom and Liquid Telecom, as well as between administrative foundations like the UN, UNESCO and UNHCR to grow the drive when it launches.

“Unlike many existing ‘play to earn’ models, the TBTM system is unique in that it enables users to earn mobile data that they can use on any platform; and also it doesn’t require users to do anything new. It simply rewards them for doing what they already do well—discovering and amplifying the best new talents from across the continent,” Ashong made sense of in an email shipped off TechCabal.

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