Sagaverse, an Engine and Protocol for Web 3.0 Social Media, Has Raised a Total of $1.5 Million From Com2Us and Innovation Norway, Including a Handful of Super Angels

This latest investment round builds on investments from VCs with experience in deep tech, Web 3.0, interactive media and marketplaces including Promentum and a range of private VCs such as David Helgason from Unity3D and Bogomil Balkansky, a Sequoia partner.

The Sagaverse project is a DApp-powered community that unites creators and fans, enabling their co-creation, co-monetization and co-distribution of interactive and augmented videos using original and fan content.

‘Forgotten’ fan content goes unmonetized

Sagaverse has created a new content format and protocol that is solving one of the web’s largest problems. All creators have their own superfans that produce fan content. Globally there are 75 million fans creating derivative works and fan art, creating billions of fan content consisting of images, videos, live streams and comments.

Fan content outnumbers original content. Unfortunately, most user-generated content is trapped in dead ends.

Lars Eric-Ravn, CEO of Sagaverse, said,

“This is ‘forgotten’ content that goes unmonetized and is not used as a distribution driver. This is a massive missed opportunity and ripe for disruption.”

Sagaverse asks and answers the question – What if there was a way for creators and brands to activate fans and their content, thereby increasing their reach?

Just imagine the greater network effects that could be realized if creators and fans were given the power to buy-in? For creators, there’s nothing more powerful than a fan – and what fans crave most is meaningful interaction and connection.

Blockchain and tokenomics

Sagaverse is a DApp-powered community for creators and fans to come together to co-create, co-monetize and co-distribute interactive video using original and fan content.

Central to Sagaverse is its blockchain-powered manifest, which ensures attribution and licensing information is carried along and terms are always honored.

The protocol consists of two main components

• Media manifest for composing, distributing and recomposing tokenized assets while retaining attribution, licensing information and no duplication of assets
• Media engine that merges creation and consumption of interactive visual assets (2D, 3D, programmable, audio)

Rich media player

At the heart of Sagaverse is a rich media player designed for next-generation visual media including 3D, interactive and augmented video. Sagaverse is betting that this is the next content format that people will love and want in their lives.

Benefits for creators and fans

Sagaverse makes it easy for creators and fans to co-create and co-own 3D and augmented and video NFTs, which Sagaverse calls ‘rich media.’

Sagaverse allows anyone to support creators through content staking, which enables creators to raise funds to produce content they wouldn’t otherwise have the budget to make while allowing fans to support their favorite creator and benefit from revenue sharing.

This incentivizes and rewards creators and fans to build up the Sagaverse network through co-ownership, co-monetization and co-distribution.

Upcoming app launch

The first product launch of Sagaverse DApp is on schedule for a Q4 release, targeting short-form video creators, esports players, 3D artists, 3D animators, developers and fans.

Sagaverse’s future is an open protocol for tokenized rich media.

In 2023, Sagaverse will open its protocol, allowing publishers to build creation and consumption experiences and enabling publishers to build and launch collaborative Web 3.0 media DApps.

Find out more here.

The post Sagaverse, an Engine and Protocol for Web 3.0 Social Media, Has Raised a Total of $1.5 Million From Com2Us and Innovation Norway, Including a Handful of Super Angels appeared first on The Daily Hodl.