Po.et will integrate its blockchain technology into Maven ecosystem, accessing 40 million users, thousands of professional content providers
NASHVILLE, Tenn.--(BUSINESS WIRE)--Po.et — a blockchain-based open universal ledger for digital creative assets — announced today it is partnering with Maven (MVEN), a fast-growing digital media company architected specifically to serve independent publishers. Maven’s significant scale offers a leap forward for Po.et, which will now have the ability to receive and cryptographically sign data from Maven’s thousands of professional content creators serving 40 million users.
“This is our first big partner with significant scale,” said David Bailey, co-founder of Po.et and chairman of the Po.et Foundation. “Maven’s platform and network of passionate independent publishers is a perfect strategic partner for us, not only because of their scale, but because of their already-built ecosystem of content creators. With the help of their world-class technology team, we’re looking forward to efficient collaboration as we explore the potential of our technology when put to use in a real-world environment.”
Bailey added, “Maven is a perfect fit because they are already architected toward the same mission and all of their content lives on a single database, with a unique ID tied to every content creator. Integrating Po.et will be straight forward.”
By creating an open platform on the blockchain — a decentralized public ledger of digital transactions — Po.et aims to create an immutable and globally verifiable ledger for the world’s creative works.
“Maven’s publishers will enhance the value of their content through our platform, building a digital fingerprint of their history and preserving their journalistic portfolio,” said Tyler Evans, CTO of BTC Inc. and director of the Po.et Foundation. “One of the things that makes this so exciting for Po.et is the insight and vision about the publishing and media markets that Maven's leadership team brings to the Po.et project.”
Po.et will provide Maven publishers with the ability to timestamp and validate their content and digital assets in an unalterable system which will automatically issue digital ownership certificates.
Using cryptography, Po.et gives both publishers and content creators the tools to automate the licensing process without relying on third parties.
“Integrating with Po.et advances Maven’s mission to empower independent publishers’ ability to own and control a sustainable financial future for themselves,” said Maven CEO James Heckman. “By utilizing Po.et’s blockchain technology, our content creators will be protected from improper use of their content and ensure fair monetization.”
Board seats, investment and equity exchange
In addition to the technology partnership, BTC Inc. will invest in Maven’s most recent private placement transaction at $2.50 per share. Po.et will issue a warrant for an undisclosed number of POE tokens to Maven, Maven will issue a warrant for a like value of Maven stock to Po.et, and the two founders, David Bailey and James Heckman, are both joining each other’s board of directors (Maven and Po.et), in conjunction with the agreements.
About Maven
Maven (ticker symbol: MVEN) is an expert-driven, group media network, whose innovative platform serves, by invitation-only, a coalition of professional, independent channel partners. By providing broader distribution, greater community engagement and efficient advertising and membership programs, Maven enables partners to focus on the key drivers of their business: creating, informing, sharing, discovering, leading and interacting with the communities and constituencies they serve.
Based in Seattle, Maven is publicly traded under the ticker symbol MVEN. The executive team includes digital media pioneers James Heckman, Josh Jacobs, and Paul Edmondson, and technology innovators Bill Sornsin and Ben Joldersma. For more insight, including details of the company’s recent acquisition of HubPages.com, head to themaven.net.