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

So far, the company has received support from a community of backers who have contributed 172 ETH (about $500,0000). The new funds will be used to hire developers to build the platform and expand the core team.

Devin Lewtan previously worked on the Clubhouse show "NYU Girls Roasting Tech Guys," an interactive dating show where any participant in the room could participate in a live broadcast to talk to others while they listened and see if The two contestants will either hit it off or face flak from the host. The show's guests are Twitch co-founder Justin Kan and music artist Diplo.

"Mad Realities is the MTV but for this non-existent new media network," a statement from the company said. "Our programming is a social experience from concept to consumption. We started with dating shows, but see all reality shows as a content-driven community, a social experience that needs to be shared."

Long-terms goals include rethinking how people consume and engage with the content they watch, with the ultimate goal of becoming a decentralized, autonomous organization where NFT holders, rather than firm executable documents, decide what happens. Future iterations of the organization will include governance tokens and a shift from dating genres to co-create new types of programming.