ROW8 has acquired Rad to operate a premium movie streaming service using NFTs

LOS ANGELES, Dec. 21, 2022 /PRNewswire/ — ROW8, a Premium Movie Streaming service with the latest Hollywood blockbusters like Black Adam with Dwayne “The Rock” Johnson, Ticket to Paradise with George Clooney, and Bullet Train with Brad Pitt, has acquired the streaming platform. metaverse and web3 Rad. ROW8 has featured videos on demand from every major studio on its platform, with all of its studio partners exploring the NFT in some way. Rad has been building immersive streaming technology and leveraging smart contracts for over 5 years, and has many of the same studio partners for VR and blockchain-based content. Combined, the two companies will work with major studios and top NFT projects to build the web3 and metaverse.

“Rad’s collection of web3 creation tools combined with ROW8’s library of Hollywood films will make ROW8 a premier destination for both digital collectibles and your favorite movies,” said Jasmina Kristof, Founder and President, ROW8.

“ROW8 is easily the company best positioned in the world to bring Hollywood into the future, with its patented technology, app footprint, and deep relationships with the world’s largest studios,” said Tony Mugavero, CEO of Rad. “They have the highest level of content you can get in the entertainment industry, and Rad works with the same studios at web3 and XR, which means we can accelerate future distribution adoption from a trusted place.”

ROW8 has streaming deals with every major movie studio, including Disney, Universal, Warner Bros., Paramount Pictures, Sony Pictures Entertainment, and offers more than 1,800 theatrical films with window releases. ROW8’s patented technology includes the ability to geo-locate viewers and share revenue with nearby theater chains, dynamic scene alerts to give viewers a peek to see if the next scene is scary or has adult themes, and their “Movie Love Guarantee” enabling Viewers can return a movie and replace it with another movie if they don’t enjoy it.

Rad has streamed innovative content with every major studio and broadcaster globally by licensing content or running experiences in VR and web3, has streaming apps on PlayStation 4, 5, Android TV, iOS, and Meta Quest, and built a leading global position in VR, distribution, and more. Content on devices such as PlayStation VR, HTC Vive, and Windows Mixed Reality. Rad was the first streaming service to offer an NFT subscription and is launching a full NFT Stream Pass in December 2022. Rad has done NFT issuances with companies like DKNY, Hacksmith, and Cinedigm, and directly with content creators like Elliot Sloan and platinum rapper Calboy. Rad has also worked with ConsenSys to build its Ara blockchain-based platform with ARA tokens, which will power ROW8’s NFT platform. In addition, Rad has many well-known studio and media investors such as Disney, Sony Innovation Fund, A+E Networks, WWE, Warner Music Group, Gary Vaynerchuk, and more.

Tony Mugavero will become CEO of the combined companies, and RAD’s leadership team will continue to be part of the deal.

“We couldn’t be more excited to be joining ROW8,” said Brooklyn Eric, Rad’s chief marketing officer, who will remain as chief strategy officer after the acquisition. “Together, we will be the first platform to offer movies like Avatar and Top Gun alongside NFTs from Hollywood studios and web3 builds.”

The combined companies secured funding in a round led by Ayre Ventures.

Ayre Ventures founder Calvin Ayre celebrated the acquisition, describing it as “the perfect marriage of content and delivery, the intersection of preparation and opportunity. ROW8’s vast library of notable content will discover new ways to reach consumers through Rad’s BSV-based NFTs. BSV is the only blockchain with With scalability and ultra-low transaction fees to deliver on the promise that web3 holds for creators, distributors, and consumers.”

Also participating in the round are Intersect VCs, who are investors in Dapper Labs and Triller; former New England Patriots Super Bowl champ and 93 draft Pro Bowler Richard Seymour; Alvin Kwan, former President of Corporate Development at Fox and member of the Fubo TV Board of Directors; Rosti Matveev, who is CSO at Calaxy and formerly a partner at MSG Ventures; Revere VC stacks Jason Campbell, former quarterback for the Washington Redskins and Oakland Raiders.

Upon completion of the acquisition, Paul Rajeshgood, Managing Director of Private Equity for Ayre Ventures, will be appointed to the ROW8 Board of Directors.

about rad

Rad NFTV is the first streaming platform powered by NFTs. Rad’s suite of apps allows you to stream live TV, premium video, and live events all unlocked through NFTs. Discover content in ESports, Music, Comedy and Sports Entertainment from companies like Complex, Whistle, CoinDesk, DeadHeads, Knights of Degen and Virtue Animation Studio. Rad NFTV’s library of fast and buzzing content, NFTs, crypto rewards, and OTT footprint create a streaming platform for the next generation of creators and fans.

The platform can offer a wide range of NFT experiences and content, with 2D, 3D, 4K, Live, 360°/180° VR, and traditional video across devices such as PlayStation 5, PSVR, Oculus Quest, iOS, Google TV, and more. Viewers can earn ARA rewards and become peers in the network powered by Ara’s blockchain technology and P2P networks, and the company’s Rad Pandas can be used to unlock lifetime subscriptions as well as get additional ARA rewards.

About Row8

ROW8 is a subscription-free movie-only OTT service that features new titles, catalog titles and has distribution deals with all the major Hollywood studios. It also features a “Movie Love Guarantee” that allows customers to return their movie within the first 30 minutes and exchange it for another at no additional charge, and a patent-pending “Scene Alert” monitoring system that alerts parents to inappropriate scenes before they air. , giving them control over the content their children see.

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