The combined team will focus on working with major film studios and leading NFT projects building Web3 and the Metaverse, and will launch the NFT Stream Pass and NFT ROW8 platform by the end of the year.
“Rad's Web3 Creation Toolkit, along with the ROW8 Hollywood Movie Library, will make our platform the go-to place for both digital collectibles and your favorite movies,” said ROW8 Founder and President Jasmina Christoph.
ROW8 has streaming agreements with all major film studios including Disney, Universal, Warner Brothers, Paramount Pictures, Sony Pictures Entertainment and offers over 1,800 films in theaters.
Rad was the first streaming service to offer content subscriptions to NFT users and also worked with ConsenSys to create the Ara blockchain platform and the ARA token.
In addition, companies will receive additional funding as part of a round led by Ayre Ventures. The round also includes Intersect VC, investors Dapper Labs and Triller, the New England Patriot Super Bowl and 93 Ventures.
Earlier, a consortium of OneOf, eBay and Globe Entertainment opened sales of the Rock Legends: Led Zeppelin collection of non-fungible tokens.