UAE Investors invest $5 million in Blockchain NFT crowd funding platform Mcontent
UAE institutional investors have invested $5 million in Blockchain and NFT Film based Crowd funding platform out of a total $10 million raised in MContent seed funding round. The seed investment round was led by UAE Gargash Group, with investments from Dubai DIFC firm Fiducia Capital, and Plant N investments from UK.
Mcontent was launched in July 2021. It is an eco-system that enables crowd funding of film production and capital-intensive content creators using Cryptocurrency and NFTs.
Since July, the platform has now funded 11 prominent film projects across four continents of the World.
The most notable investment came from UAE Gargash Group, having a strong presence within the automotive, real estate and financial services sectors.
Daman Investments, which is amongst the leading non-banking financial services entities in the region; was the lead advisor and the most prominent pre-seed investor in MContent.
Commenting on the successful capital raise, Umair Masoom, Founder of MContent said that, “The independent film makers and content creators across the globe have always struggled to raise funding through a structured platform & MContent has successfully championed a scalable solution to fill this gap. The real power of the blockchain technology, tokenization and NFTs lies in use cases that are asset-backed in structure, which solve real world financial problems rather than speculation-based offering of non-utility crypto assets or non-fungible tokens in the name of DeFi & digital art. On behalf of the team, I am grateful to our investors and partners who have believed in the eco system which will revolutionize the global content landscape in the years to come.”
MContent has already funded 11 production projects including the extremely popular documentary film on the El Savador’s Bitcoin Revolution. The film is set to be released on Insight TV next month, a global factual entertainment platform headquartered in Netherlands that has access to 200 Mn Households. Thereafter, MContent also partnered with Insight TV to co-produce an entire “Blockchain Life” series which is already sought after within the leading OTT platforms of the World.
MContent became the first blockchain company in the World to successfully mint and market BTS NFTs which essentially meant the “Behind the Scenes / Bloopers” of the entire film minted as exclusive access NFTs on the blockchain.
The independent film makers who have successfully acquired funding for their film projects through MContent are scattered across four continents of the World including successfully concluded projects in deserving markets like South America, Africa and South-East Asia. The largest markets are also fully covered as the soon to release project titled, “The Ripple Vs SEC Saga” has been filmed in the United States – a documentary on the biggest case in the history of crypto, featuring prominent individuals related to the case like John Deaton & Ben Armstrong, as well representatives from the regulators and investors. The trailer of this upcoming thriller has already attracted millions of views on social media given the popularity of the subject and the quality of the production. Also a recent trailer on the first ever animated series in the crypto space titled “Alex Got Rekt” has got audiences waiting for another blockbuster release by MContent. A production titled “The unexpected rise of Binance,” featuring the CEO of one of the biggest crypto trading platforms is also a popular product in the works that has been funded through the MContent Eco System.
Earlier MContent also announced a “friends”-like comedy sitcom series called Wein Lambo which is being currently shot and produced in the metropolitan city of Dubai.
Figure 2: In the above picture: Founding members of MContent
In February 2022, MContent is launching the first of its kind – fully monetized content consumption platform by the name of MBrowse in order to encourage hyper inflated earnings for content creators as well as viewers. The users on the platform will receive various rewards in the form of MContent’s native digital currency for their contributions to the platform. The native token of MContent is currently trading at a Marketcap of $28 Mn on more than 6 centralized and decentralized exchanges.
MContent has also entered the metaverse and is about to launch exclusive VR screening tickets for their upcoming film launches through NFTs which will bring audiences into an environment that is termed as the Cineverse by the MContent Team.
