Blockchain & NFT Backed Film Crowd Funding Platform MContent Raises $5 Mn in Seed Round Led by Gargash Group & Others
MContent raises seed capital from prominent UAE based institutional investors at a $10 Mn pre-money valuation
Dubai, United Arab Emirates–(Newsfile Corp. – January 29, 2022) – Launched in July 2021, MContent 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 company has recently completed its Seed funding round at a valuation of over $10 Mn raising almost $5 Mn from prominent institutional investors in the UAE.
Most notable investment came from Gargash Group – one of the leading business conglomerates in the UAE 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. Other institutional investors participating in the recently concluded round included DIFC based firm Fiducia Capital as well as Planet N Investments from the UK (a global fintech startup investment fund).
MContent has already funded 11 production projects including a documentary film on El Salvador’s Bitcoin Revolution. The film is set to be released on Insight TV next month, a global factual entertainment platform headquartered in the Netherlands that has access to 200 Mn Households. Thereafter, MContent also partnered with Insight TV to co-produce an entire “Blockchain Life” series. 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 markets like South America, Africa and South-East Asia. The largest markets are also fully covered as the soon to released 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” was released. A production titled “The unexpected rise of Binance”, featuring the CEO of one of the biggest crypto trading platforms, is also a 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 currently being shot and produced in the metropolitan city of Dubai.
In February 2022, MContent is launching the first of its kind – fully monetized content consumption platform by the name of MBrowse.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 $28Mn on more than 6 centralized and decentralized exchanges.
MContent has also entered the metaverse and are 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.
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 problemsrather 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.”
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