NY-Based Web3 Production Firm Trustless Media Secures $3.25M in Seed Funding

NY-Based Web3 Production Firm Trustless Media Secures $3.25M in Seed Funding

"NFTV is a portmanteau of NFT and TV. It was something that kept coming up when we described what Coinage would be," the leader of the project mentioned.

Trustless Media, a NY-based Web3-driven media company, has recently announced that it collected $3.25M in a seed funding round backed by Alameda Research, a quantitative crypto trading organization led by Sam Bankman Fried.

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According to the official announcement, the organization will leverage the fresh capital to further its ambition of building community-owned Web3 TV shows and making potential partnerships. The fundraiser also saw participation from a number of prominent investors in the crypto industry, including Ava Labs, Red DAO, Megan Kaspar, and others.

On top of that, yesterday, Trustless Media, which is currently working with various content creators to create tokenized TV shows using non-fungible tokens (NFTs), announced that it would be debuting its own first NFTV show, dubbed Coinage.

As stated on the official website, the project will revolve around crypto’s largest stories and explore them with a skeptical eye. Zack Guzman, co-founder of Trustless Media, will reportedly host Coinage, bringing a significant amount of experience that he managed to gain throughout his years working as a financial reporter.

While discussing the new NFTV show, Guzman commented on why the company decided to launch it and implied that there isn’t enough trust in the crypto community. Thus, the industry needs something such as this in order to continue growing. He added:

"It all boils down to trust, particularly in crypto. I think what we’re trying to do with Coinage, a reason why a show like this is needed, has been proven out by the collapse we’ve seen."

Trustless Media has also unveiled its upcoming plans, including Web3-driven TV shows outside the crypto world. The company will be also exploring other prominent digital media sectors such as travel or food.

Gyth L. - Crypto Analyst

by Gyth L. - Crypto Analyst, BitDegree


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