1World Online, a self-described “blockchain-powered engagement & monetization platform for publishers, brands and users,” has revealed its intent to build on the Algorand blockchain network, and will see some investment from Borderless Capital to do so, according to a press release from the group.
Speaking on the matter is Arul Murugan, the Founding Managing Partner at Borderless Capital, who said:
“1World Online leads the space of using blockchain to bring economic incentives to the Media Industry, and we consider it one of the most promising Blockchain applications. With 1World Online’s growing network of +3000 publishers and advertisers, +20M users, multi-million dollar revenue, and track record in innovation and execution makes it well positioned to ignite mass adoption of blockchain in media and capture a significant portion of the $148B Content Marketing Market.”
For those unaware, Algorand is a scalable platform for decentralized currency and transactions made within it. Those on the 1World Online platform will take advantage of Algorand as its “primary infrastructure layer and leveraging its capabilities for tokenization,” and the additional funding will assist with that.
Alex Fedosseev, the CEO and Founder of 1World Online, also shared some thoughts on the matter, stating:
“Algorand is one of the world-leading Blockchain platforms and provides numerous tools and utilities for building best-in-class applications. We are honored and excited to become their technology partner and a portfolio company of Borderless Capital, and look forward to building the best token economy for media space together.”