AlphaNetworks Raises $10 Million To Build Global Media Platform on the Blockchain

CommPRO.biz Editorial TeamAlphaNetworks, a blockchain-powered entertainment platform supported by industry-leading AI and cognitive science, announced the close of USD $10 million of initial funding led by Alphabit Digital Currency Fund and joined by Shuttle Fund of Korea, Smart Contract of Japan and other major crypto investors. The announcement was made as part of AlphaNetworks’ appearance on the closing keynote panel of the International Broadcasting Conference in Amsterdam, the premier annual event for broadcast professionals worldwide.AlphaNetworks is led by two-time Emmy winner, former Television Academy Governor and media consultant, Seth Shapiro. As Head of Production at DIRECTV Advanced Services, he launched over 25 services, including NFL Sunday Ticket Interactive and TiVo by DIRECTV, the world’s first major DVR platform. AlphaNetworks combines subscription VOD, targeted advertising, and pay-per-view business models along with complete pricing freedom for creators and media companies. The platform also offers AI-powered audience analytics, blockchain-based transparency and increased monetization for creators and media companies based on on a transparent, viewership-based algorithm.“We are incredibly proud of the industry-leading expertise of the AlphaNetworks team, and their incredible roadmap for building the next generation of media infrastructure on the blockchain,” said Alphabit Fund CEO Liam Robertson.AlphaNetworks Proof of Engagement (PoE) algorithm tracks interactions between consumers, advertisers, and content, giving all stakeholders transparent insight into audience behaviors, which means improved curation for viewers, fair compensation for creators, and more targeted advertising—all tracked and authenticated on the blockchain.“It's fashionable to talk about how much the media business is being disrupted—as if this was something new. The truth is the media business has always been disrupted by new technology— from broadcast to cable, and cable to broadband," said Seth Shapiro, Founder and CEO of AlphaNetworks. “The next era of media will be defined by forces like blockchain and distributed ledger technology, AI and cognitive science, which will unleash unprecedented opportunities for creators, consumers, and advertisers. We’re proud to be a part of this next wave.”AlphaNetworks is slated to launch in Q2 2019.