TCG Crypto Remains Bullish On Web3 Media Investment

By defying the laws of a crypto crisis, TCG Cryptowhich is the early-stage Web3 fund of multi-stage investment firm The Chernin Group (TCG), has made two quick investments in the blockchain entertainment world in the past few days.

The first of these came thanks to his leading an $11.7 million Series A funding round for Hume, a Web3 entertainment platform specializing in bringing music to the metaverse. The new infusion of funds (which was made by 13 different companies in total) will primarily be used to establish the platform’s roster of “metastars”, who are virtually and physically resident artists who mix music with digital identity and storytelling, ultimately developing a more immersive and futuristic medium for fans to interact with their favorite music and creators.

The funds will also be used to grow the company’s engineering, creative, music and marketing teams, as well as evolve its overall vision to redefine modern music through the augmentation of Web3 elements.

Continuing on the theme of multimedia entertainment, the company also recently completed a $5 million Series A funding round for Glass, a web3 entertainment platform that aims to merge web3 with the world of content creation by offering creators’ fans (on platforms such as YouTube and TikTok) with the ability to purchase videos as NFTs.

Here, fans have the agency to dictate the price of a video based on its quality/entertainment value, while creators can receive an additional form of revenue that differs from traditional “advertising revenue” streams.

With support from TCG Crypto, Glass intends to leverage the company’s extensive relationships within the Web3 entertainment scene to help expand its portfolio of creators (with an additional focus on bloggers). It also plans to add “creator profiles” to its platform on Monday, as well as build on its secondary market which allows users to buy and sell NFTs using the same interface as they use to watch videos.

Referring to the abundance of connections TCG Crypto has in the space, its portfolio of other Web3 investments includes Immortal Game (whose $12 million Series A funding round was led by the company in July), Rabbithole, Flamingo DAO, Arkive, Medallion, Altered State Machine, Draup, Tribute Brand, etc. Although each is in its own niche of Web3 – whether it’s music, education, games, virtual experiences, etc. – all of these entities work in sync when it comes to opening up new ways for users to consume Web3-oriented multimedia.

As we’ve already explored on Blockster (particularly in regards to “The New Creator and Owner Economy”), these areas of investment are crucial, as they could have a huge say in the ability of the NFT industry (and the Web3 industry as a whole) to rebound out of the current crypto winter with legitimate, genuine, and lasting momentum.

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