Entertainment Company Mad Realities Raises $6 Million to Produce Decentralized Media

New media startup Mad Realities has secured $6 million in early-stage funding to build a decentralized entertainment platform that allows viewers to own and co-create TV shows using irreplaceable tokens (NFTs).

The seed round was led by Paradigm, with participation from funds Maveron, Long Journey and Paris Hilton's 11:11 Media. Individual investors include Selby Drummond, chief brand officer of Bumble, Trevor McFedries and Alex Zhang, co-founder of crypto social club Friends with Benefits, and Will Papper, co-founder of Syndicate. /p>

Mad Realities showcased its first proof-of-concept dating show, Proof of Love, on YouTube in March, with contestants picked by a community of NFT holders. Alice Ma, a co-founder of Mad Realities with a background in product and software engineering, also sold an NFT in March for 4ETH to allow end-owners to recommend competitors (including themselves).