Blockchain Startup Mediachain Raises $1.5M in Seed Funding
Summary
Mediachain, a New York-based developer of a blockchain platform that automatically connects media to its creator and information about it, raised a seed funding round whose amount was reportedly $1.5m.The company intends to use the funds to further the open source development of the platform, and to build applications and services to make it accessible to everyone.Led by Cole Brown, Yusef Napora, Arkadiy Kukarkin, Denis Nazarov and Jesse Walden, Mediachain is building an open library that automatically connects media to its creator and information about it.Today, over two million images or related metadata records have been contributed to Mediachain by participating organizations including The Museum of Modern Art (MoMA), Getty Images, the Digital Public Library of America (DPLA), and Europeana and the company is inviting organizations, creators, and developers to join the community and contribute more data.In turn, Mediachain will facilitate automatic attribution and discovery for all of them, to allow creators and organizations to receive analytics and information about how their content is being used across the internet.