Creaton announced today that NuCypher, ZBS Capital, and ExNetwork have made strategic investments into the Creaton project. Specifically, ExNetwork made a $100,000 investment, NuCypher provided $50,000 and ZBS Capital funded $25,000.
The investments demonstrate that the three partners are looking forward to facilitating the full potential of the project as well as giving support to the platform’s growth.
The Creaton project is building a platform where content creators can easily share their own content and interact with their fans directly.
The goal is to empower content creators and offer huge potential for their fans while eliminating limitations from intermediaries, hurdles, and rules. Creaton aims to provide a platform for content creators to have a personal space, delivering the value they can’t find or is a limited offer on any other platform.
Contributions of the three parties will enable Creaton to proceed to the next stage of its development. According to the team, the next step is to invest in hiring new employees and the company’s operation.
Speaking of the strategic funding, a NuCypher spokesperson highlighted:
“We’ve enjoyed working with the Creaton team over the past year and have greatly benefited from their feedback as one of the power users of proxy re-encryption and threshold cryptography. They started building at the nexus of the creator economy and Web3 – before it was cool – and we’re excited to continue our collaboration. Creaton’s mainnet launch is well-deserved, and we’re excited to see the full realization of what they’ve built on top of NuCypher/Threshold Network.”
Creaton was live at the beginning of November this year. Functioning as a streaming-first subscription model, the platform enables users to create and share their content without restrictions.
The platform has worked with various influencers and as of today, over 100 creators are actively engaged in providing contributions and other quality suggestions in order to make the decentralized platform more powerful and appealing.
The project’s launch marks the beginning of a long journey to expand the platform, engage creators and provide more meaningful interactions to fans all over the world. In addition, content can be claimed by creators and fans through NFT, with the content remaining accessible in perpetuity thanks to permanent archiving solutions.
Creaton Business Lead and Co-founder Sascha also shared his thoughts on the news:
“After working with NuCypher for almost over a year now we are very happy to welcome them as one of your private investors in our token private sale. This further enables us to work on advancing our efforts in being the first protocol level substack for fully decentralized web3 native social communities and DApps.”
Among other investors, NuCypher is one of the noticeable names. The blockchain service project aims to protect users’ data and information through a decentralized ket management system, encryption, and access control.
The project enables users to exchange private data without fear of being eavesdropped on by other encrypted browsers.
This was a relatively new concept in decentralized blockchain technology, which makes the technology distinct from other blockchain projects.
The collaboration between NuCypher and Creaton is extended and powered after the strategic funding, giving Creaton a certain amount of benefits such as filtering out malicious information that may be affecting the experience of customers, protecting data from hackers, or preventing hackers from accessing users’ information.
Together with Lit Protocol, the integration of the NuCypher protocol makes Creaton the first fully encrypted social networking platform to protect the privacy of users and creators.