Mad Realities, an entertainment firm, aspires to be a decentralised autonomous organisation in which the public co-creates the events they watch. The entertainment startup has received $6 million in a round sponsored by venture capital firm Paradigm.
Mad Realities, a new entertainment startup, has secured a $6 million seed round to establish a decentralised entertainment platform that allows fans to own and co-create TV series using non-fungible tokens (NFTs).
Dating show on YouTube by Mad Realities
Mad Realities released its first proof-of-concept dating program, Proof of Love, on YouTube in March, with candidates selected by a network of NFT holders casting votes. Alice Ma, a co-founder of Mad Realities with an experience in product and systems development, also sold an NFT for 4ETH to allow the future owner to recommend competitors for the program.
Til date, the firm has been sponsored by a community of supporters who have contributed 172 ETH (approx $500, 0000). The extra funds will be used to employ developers to build up the platform and expand the core team.
Goal of Mad Realities to become a decentralized autonomous company
Long-term goals include rethinking how people accept and react to the stuff they watch. The ultimate objective of creating a decentralised autonomous organisation is to give deciding power to NFT holders rather than company officials. The company’s future models will feature a governance token and a shift outside the dating sector to co-create other sorts of shows.
