BBTV Enters Next Phase of Growth, Enlisting Category Leader ConsenSys to Co-Develop Web3 NFT Solutions for Creators
BBTV Holdings Inc. has partnered with ConsenSys to develop Web3 NFT solutions for content creators. BBTV, a leader in creator monetization, aims to leverage its network of nearly 5,000 creators and 600 million monthly viewers to enhance the NFT space. The partnership is expected to expand creators' marketing and content management capabilities while facilitating fan engagement through blockchain technology. BBTV's Web3 strategy includes the recent launch of a 'Pay to Crypto' solution, allowing creators to receive earnings in various cryptocurrencies.
- Partnership with ConsenSys to enhance Web3 NFT solutions.
- Access to a network of nearly 5,000 content creators.
- 600 million unique monthly viewers generating over 35 billion views.
- Launch of 'Pay to Crypto' solution for creators.
- Potential risks associated with the nascent NFT market.
- Historical losses and negative cash flow may hinder growth.
- Dependence on creators’ successful adoption of Web3 solutions.
BBTV Holdings Inc. Uniquely Positioned to Drive Web3 Creator Economy by Connecting Creators, Fans and Collectors
VANCOUVER, B.C, March 29, 2022 /PRNewswire/ - BBTV Holdings Inc. (TSX: BBTV) (OTCQX: BBTVF) (Frankfurt: 64V) ("BBTV" or the "Company"), the leading creator monetization company, has entered into a partnership with ConsenSys, a leading Ethereum software company, to support BBTV's development of Web3 NFT solutions for content creators.
"As home to almost 5,000 content creators, BBTV has been a driving force in Web2's
- BBTV will be providing creative, marketing, and content management solutions to creators to enable them to expand, engage and monetize their fan communities outside of major social and video platforms by leveraging blockchain technology.
- ConsenSys NFT, led by Co-Heads Johnna Powell and Tyler Mulvihill, will provide co-development support for the backend of BBTV's NFT solutions.
- BBTV reaches 600 million unique monthly viewers[1] generating more than 35 billion monthly views[2], and the Company is uniquely positioned to leverage its scale, expertise and engagement in the creator economy to drive adoption of Web3 solutions by creators, fans and collectors.
- Through the Company's Web3 strategy, BBTV will help creators build their NFTs, track ownership of their content and impact across fans and collectors. Additionally, the Company will authentically connect creators to their fan-base and help creators retain ownership of that experience. This enables creators to monetize their intellectual property more effectively by activating their fans.
Added Rafati, "Fans want to own a piece of their favorite creators' content and to feel part of a community beyond video platforms. This partnership will play a key role in BBTV's wider Web3 strategy alongside our community and metaverse initiatives, and ConsenSys provides additional strengths for us as we build something truly differentiated in the space."
"The creator economy is a powerful ecosystem to drive mass adoption of blockchain and everything it has to offer for creators and their fans," commented Tyler Mulvihill, Global Co-Head of NFTs, ConsenSys. "As they are a standout leader in the space, we are proud to be working with BBTV to open this new frontier for Web3 and the creator economy."
Web3 transactions such as NFTs are an addition to BBTV's Plus Solutions for content creators. Plus Solutions are an important pillar of BBTV's business, driving higher margin revenue as well as increased value for content creators and brands.
This announcement closely follows BBTV's launch of its Pay To Crypto solution for creators in January, a component of the Company's Web3 solutions which enables creators to receive their earnings in a range of popular cryptocurrencies, including Bitcoin, Ethereum and USD Stablecoin.
For more information visit www.bbtv.com.
About BBTV
BBTV is a global media and technology company headquartered in Vancouver, Canada. The Company's mission is to help content creators become more successful. With creators ranging from individuals to global media brands, BBTV provides comprehensive, end-to-end Solutions to increase viewership and drive revenue powered by its innovative technology, while allowing creators to focus on their core competency – content creation. In December 2021, BBTV had the fourth most unique monthly viewers among digital platforms with more than 600 million globally, who consumed more than 35 billion minutes of video content [1]. (www.bbtv.com)
[1] Calculations and classifications made by BBTV based on data from Comscore's "Top 12 Countries = December 2021 comScore Video Metrix Media Trend – Multi-Platform – Top 100 Video Properties Report"; Top 12 countries represent ~
About ConsenSys
ConsenSys is a leading Ethereum and decentralized protocols software company. We enable developers, enterprises, and people worldwide to build next-generation applications, launch modern financial infrastructure, and access the decentralized web. Our product suite, composed of Infura, Quorum, Codefi, MetaMask, Truffle, Diligence and ConsenSys NFT, serves millions of users, supports billions of blockchain-based queries for our clients, and has handled billions of dollars in digital assets. Ethereum is the largest programmable blockchain in the world, leading in business adoption, developer community, and DeFi activity. On this trusted, open source foundation, we are building the digital economy of tomorrow. To explore our products and solutions, visit http://consensys.net/.
Forward Looking Statements
This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws (collectively, "forward-looking information"). Forward-looking information is not information about historical facts but instead represents the Company's intentions, beliefs, plans, goals, objectives and strategies regarding future events and results. Forward-looking information contained in this press release includes statements that with the Company's scale and expertise the Company is uniquely positioned to empower the growth of Web3's creator economy; the Company is uniquely positioned to leverage its scale, expertise and engagement in the creator economy to drive adoption of Web3 solutions by creators, fans and collectors; and the Company's partnership with ConsenSys will play a key role in BBTV's wider Web3 strategy. Forward-looking information is necessarily based on a number of estimates and assumptions that the Company considered appropriate and reasonable as of the date such information is given, including but not limited to the Company's assumptions that the Company will empower the growth of Web3's creator economy; the Company will drive adoption of Web3 solutions by creators, fans and collectors; the Company will be successful, on a timely basis, in its development of Web3 NFT solutions for content creators and its partnership with ConsenSys will be successful; content creators will embrace and use BBTV's Web3 solutions at scale; the Company's current growth plans will not change in any material respect; its internal financial forecasts and models are accurate; its assumptions regarding continued growth, changes and trends in the Company's industry and the global economy will be met; that the Company's churn will continue to remain low; that the Company will continue to contract with new content creators and to continue to receive increasing Views; the timely receipt of required regulatory approvals and strategic partner support; the absence of new laws, regulations, rules or policies of governments, platforms and other strategic partners, that may negatively impact the business of BBTV; our ability to build our market share, enter new markets and maintain and expand geographic scope; our ability to attract and retain key personnel and to execute on our growth plans; our ability to obtain and maintain financing on acceptable terms; as well as the Company's assumptions regarding foreign exchange rates. Forward-looking information is subject to known and unknown risks, uncertainties, and other factors, many of which are beyond the Company's control, that may cause actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to the risk that the Company's assumptions on which its forward-looking information is based may not be accurate; the effect of competition; that the Company has a history of losses and negative cash flow; that the Company's agreements with platforms, creators or others may terminate early or not be renewed either on similar terms or at all; that the Company's or its creators' NFTs may not realize significant revenue or at all; that the Company's solutions may not continue to be attractive to creators and may not realize our expectations; the Company's foray into Web 3 may fail; the regulatory environment and in particular, the fact that NFTs are a relatively recent concept and new regulations may be enacted with which the Company may not be able to comply, and government regulation of the Internet as well as privacy regulation which are both evolving and unfavourable developments could have an adverse impact on the Company's operating results; litigation risk; intellectual property risks; the Company's need for timely performance by its creators and strategic partners; the Company's significant reliance on its relationship with one digital platform; and the impact of the continuing COVID-19 pandemic; as well as the factors discussed under "Risk Factors" in the Company's Annual Information Form dated March 29, 2022 and its prospectus dated October 22, 2020, both filed on Sedar at www.sedar.com, and in the Company's other filings with the Canadian securities regulatory authorities at www.sedar.com. The Company does not undertake any obligation to update any forward–looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
For further information please contact:
Media Relations: PR@bbtv.com
Investor Relations: IR@bbtv.com
BBTV-C
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SOURCE BBTV Holdings Inc.
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