Under the terms of the deal Goldfinch becomes the content sourcing, funding and production arm of MContent in Europe, which includes a first look deal on all forthcoming Goldfinch productions. Goldfinch will leverage its expertise to assist MContent in acquiring catalogue content for the service which will include feature length films, television series, and short form content, pre-buying a select number of titles along with commissioning and producing originals; all of which are destined for the MContent Watch2Earn platform.
Goldfinch entered the Web3 space last year with their FF3 cryptocurrency crowdfunding platform and the company’s film productions include Sadie Frost’s “Quant” and “A Bird Flew In.”
Launched in 2021, MContent’s digital currency based ecosystem recently commissioned dating reality show “Game of Love: Dating in the Metaverse.” The Watch2Earn platform now has over 1.2 million registrations and some 300,000 user downloads with over 100,000 active users from 195 countries across the world. Over 15,000 user generated videos populate the MBrowse section, alongside a collection of MOriginals and premium exclusive content available to stream on the Watch2Earn app and web platform.
The ecosystem has funded more than 20 global film and TV projects such as “The Blockchain Life,” “El Salvador vs. The World Bank,” “The Ripple vs. SEC Saga,” “The NFT Phenomenon” and “Mystery of the Metaverse.” The company aims to complete the funding and release of 100 content projects by the end of the year.
As part of the deal, Phil McKenzie, alongside his his role as COO for Goldfinch, will also take up the position of chief content officer for MContent, replacing Arun Maljaars who stepped down earlier this year. He will be responsible for devising the global content acquisition and development strategy for MContent and the content team is set to expand further.
Umair Masoom, MContent founder and CEO, said: “Our partnership with Goldfinch will allow MContent to optimize the content investments and populate our AVOD platform with the right content mix in a short duration of time. The founders of Goldfinch have already demonstrated their knowledge on Web3 with the launch of FF3 where they successfully funded indie film projects. Given the existing scale of operations of MContent, combined with the people and business capabilities of Goldfinch on the content side, we believe that this partnership will enable us to disrupt the entire content industry with our decentralized ecosystem.”
McKenzie added: “Through this deal, Goldfinch will provide MContent with the content pipeline, knowledge and contacts to continue their growth trajectory to stay ahead of the pack and really deliver some exciting productions and experiences to their community that MContent won’t be able to get anywhere else. I am looking forward to helping MContent create a team and business, with the support of Goldfinch, that will disrupt and plot a new course for creators, viewers and the entertainment industry as a whole.”
U.A.E. conglomerate, the Gargash Group, revealed a major investment in MContent last year.