Sam Bankman-Fried, the CEO of FTX and founder of Alameda Research, has ventured into the Web3 space through a $3.25 million seed round of funding for Trustless Media. The funding round also saw participation from Avalanche’s Ava Labs and Red DAO founding member Megan Kaspar among others.
Trustless Media is working towards building a new model for its audience members and community to co-create and co-own shows they love through qualifying participation with NFTs. The media company launched its first NFTV show Coinage which explores crypto’s biggest stories and questions with a skeptical eye. The show will be hosted by Zack Guzman who is the co-founder of Trustless Media and a former anchor for Yahoo Finance. He brings a fresh perspective to the crypto space.
Coinage will release its flagship collection of NFTs through a novel trust experiment to help build its governing community. It will leverage Trustless’ diverse team of investors to begin the curated invite process and encourage healthy community debate, in an effort to ensure honest, fair, and unbiased crypto coverage. Guzman believes great ideas can flounder in a top-down system. However, he said it’s never been harder for studios and networks to guess what will break through the noise and actually connect with subscribers old and new. The executive says that by embracing decentralization, Coinage and Trustless Media are setting off on a new journey to bring stories to life by breaking down the wall between content creators and their audiences.
Sam Bankman-Fried says the high-quality educational and news resources developed by Web3 natives will be important for the continued growth of the space. He said there are big questions that the industry has to answer. Megan Kaspar, the founding member of Red DAO, said there are a lot of people out there using buzzwords like Web3 and decentralization, but Zack is one of the few who want to build real media properties founded on these ideals.
The first show will be broadcasted this fall.