PANews reported on August 28 that according to Arabian Business, Myco, a Web3 streaming platform headquartered in the UAE, announced the completion of a US$10 million Series A financing round. Daman Investments, Aptos Labs, B Digital, Mocha Ventures, Art3 Foundation, Ghaf Capital Partners, Mix Media Network, Factor6 Capital Partners and Enjinstarter, as well as a group of angel investors participated in the investment. The company's valuation in this round of financing reached US$80 million. The new funds will be used to further expand the Middle East and North American markets. Previously, Myco also announced a partnership with the Aptos Foundation to achieve decentralization of streaming content on the Aptos blockchain.
Mycomyco is a content traffic dApp that supports seamless integration of AVOD and SVOD capabilities in a decentralized environment and leverages the Web3 economic layer driven by the vision of providing true empowerment and ownership to viewers and content owners. The current content covers live sports, movies, documentaries, and UGC content.
