September 16, 2024
FMW Media Works’ New to The Street has made a strategic investment in Spinel Network Pte. Ltd., acquiring a 10% stake in the company. The investment, valued at $10 million, includes media and cash components for FMW’s national and international television programs. Spinel Network, a decentralized network utilizing AI to improve social media content ranking and recommendations, was recognized as one of the top 5 winners in Binance’s Web3 Stars Accelerator 2022 Award.
Project | Latest Raise | Latest Raise Date | Lead Investor | Category |
|---|---|---|---|---|
Spinel Lab | $10M | September 16, 2024 | FMW Media | Web3 |
The network focuses on developing technological solutions to address societal issues, creating sustainable passive income streams for contributors. Viet Nguyen, CEO of Spinel Network, expressed excitement about the investment and upcoming interviews with New to The Street, highlighting plans to expand their Web3 and AI-based business globally.
About Spinel Network
Spinel Network is a decentralized platform that uses AI to enhance the ranking and recommendations of social media content. It aims to address societal issues by developing technological solutions and creating sustainable passive income streams for contributors. Recognized as one of the top 5 winners in Binance’s Web3 Stars Accelerator 2022 Award, Spinel Network focuses on leveraging its decentralized computing network and AI capabilities to improve content trends and provide secure, efficient operations.
Website: https://spinelnetwork.com/en
About Investor
Investor: FMW Media
New to The Street, produced by FMW Media, is one of the longest-running Nielsen-rated television brands in the US and internationally. Since 2009, it has featured biographical interview segments on major U.S. networks. The show, which reaches millions of homes globally, airs as sponsored programming on Bloomberg and the FOX Business Network. Additionally, FMW Media is a major purchaser of both long and short-form paid programming on linear television.
Website: https://newtothestreet.com/
A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.
Comments