TAIPEI, OCTOBER 21, 2021 — Numbers Protocol has raised $6 million in funding from a private sale and seed round to continue development on its decentralized photo network for Web 3.0 to make digital media assets traceable and verifiable.
Numbers aims to create community, value and trust in the digital media world by leveraging traditional cryptography approaches along with blockchain technology. The project uses a capture, seal, trace approach to provide authenticity certifications as well as traceable records for data and content at the beginning of the content lifecycle, enabling users to claim and retain ownership of their data.
The fundraising included private sale participation from Protocol Labs (IPFS/Filecoin) and DAO Maker as well as a seed round that included Binance, YouTube co-founder Steve Chen, Twitch co-founder Kevin Lin, and Phil Chen, founder of HTC Vive and general partner at Race Capital.
Kevin Lin, Twitch co-founder, said, “Numbers Protocol’s innovative approach to tackling the decades-long issue of attribution in the content industry is a fundamental shift for creators in the space.”
Alongside providing authenticity and traceable records for photos, Numbers Protocol also aims to bring the context of the creator to the digital sphere and nonfungible tokens (NFTs). Through its platform, Numbers will generate a digital asset with associated chronicle record, on-chain integrity record, and a metadata injection, known as the content authenticity initiative, which includes NFTs and other contextual information such as a creator signature.
Phil Chen, general partner at Race Capital and founder of HTC Vive, said, “The information supply chain is broken, and Numbers Protocol provides the fundamental tools to build a ledger of record with more integrity and establish a chain of provenance for trustworthiness.”
Bofu Chen, chief technology officer and founder of Numbers Protocol, said, “The decentralized photo network built by Numbers Protocol will be driven by the community. Verify-to-earn and prove-to-earn are core concepts we considered when designing the tokenomics. By increasing the credibility and legitimacy of photos in the network, we are going to reshape the way digital media is viewed in the Web 3.0 space.”
The funding comes ahead of Numbers Protocol’s much anticipated Strong Holder Offering (SHO) on DAO Maker, which will take place in November 2021. More information will be announced at a later date.
About Numbers Protocol
Numbers is building a decentralized photo network for creating community, value and trust in digital media. Its Numbers Protocol redefines the nature of digital visual media as assets, and is the backbone of a suite of tools for registering and retrieving photos and videos in the Numbers network — the Capture app, Seal API and the Trace website — plus the CaptureClub marketplace and a proprietary NFT Search Engine. Numbers champions the purity of digital media and enables people to think more critically about the interactions between our images and the world around us.
For the latest updates and announcements, follow Numbers on these channels:
Twitter (Numbers Protocol): twitter.com/numbersprotocol
Telegram (Numbers Protocol): t.me/numbersprotocol
Media contact: Sofia Yan