Decrypt Media and Rug Radio Aim to Combine Forces and Create [REDACTED], a Next Generation Media Conglomerate
Tuesday, December 19, 2023
Emergent to tap leading Layer 2, Arbitrum, as exclusive blockchain partner to host and scale its community network
MIAMI BEACH, Fla., Dec. 11, 2023 /PRNewswire/ -- In a landmark union of content-creation companies, Decrypt Media Inc. (decrypt.co) and Rug Radio (rug.fm) announced that they are pursuing a merger to create a new, tech-media titan called: [REDACTED]. As part of the agreement, Rug community members will be able to create written editorial content, and work alongside experienced Decrypt editors. Decrypt editorial staff will gain access to Rug's creator platform, proprietary suite of videocasting tools, and a new ad-tech network to further content creation capabilities. The two companies are expected to finalize the merger by the end of January.
Rug Radio, the leading decentralized content creator platform globally, boasts a vibrant community of scores of creators and thousands of active members in its DAO, while Decrypt Media, an independent publisher, boasts millions of readers visiting its site each month to learn about the ever-evolving web3 world.
Under [REDACTED], the two companies are creating a next-gen network in the realm of online information and decentralized content creation that will reach more than 10 million people a month.
[REDACTED] plans to partner with Arbitrum as the exclusive Layer 2 blockchain for the newly formed media ecosystem. As the industry-leading Layer 2, Arbitrum is well positioned to handle the active engagement needs of a media hub, centered around creator recognition, listener rewards, and advertisers. [REDACTED] will leverage Arbitrum's ability to handle high-frequency micro-transactions, all at a low cost, to ensure a frictionless and efficient user experience.
"We are at the cusp of a new era in media," said Loxley Fernandes, CEO of [REDACTED]. "By combining Decrypt's journalistic credibility with Rug Radio's innovative platform, we're set to become a trailblazer for the future of decentralized media."
[REDACTED] is poised to redefine the media landscape with the introduction of a media token, creating a dynamic ecosystem for consumers, creators, and advertisers alike. It represents a commitment to fostering a sustainable, participatory, and equitable media environment.
Rug Radio founder Farokh Sarmad, who will be assuming the role of [REDACTED]'s president, added: "The new token will empower our network, fueling growth and innovation."
[REDACTED]'s mission is to create an equitable relationship between content producers and consumers, where each interaction enhances the value of the network, he said. "This merger marks a significant step forward in the pursuit of a democratized media space, one where the line between content creators and audiences is not just blurred but erased."
Decrypt co-founder Josh Quittner will be chairman of [REDACTED]. He commented on today's news, stating: "Rug Radio's creator tools and community will turbocharge Decrypt's original mission to decrypt everything."
Joseph Lubin, Chairman of Consensys Mesh, which is an investor in Decrypt as well as a Rug holder and active DAO participant added, "Decentralized media will play an important role as we welcome the age of community. This merger will mark a significant step forward in the pursuit of a democratized media space, one where value is created and distributed more equitably between audiences and creators."
Nina Rong from Arbitrum Foundation added, "[REDACTED] is set to pioneer a new age in economical web3 advertising and user rewards, and Arbitrum is suited to handle the many needs of new, fast-growing communities. The chain will support the various programs offered by the media group and establish a new precedent for economical community building on blockchain."
Media Contact
arbitrumpr@mgroupsc.com
View original content:https://www.prnewswire.com/news-releases/decrypt-media-and-rug-radio-aim-to-combine-forces-and-create-redacted-a-next-generation-media-conglomerate-302011358.html
SOURCE Arbitrum Foundation; Decrypt Media; Rug Radio
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