Blockchain copyright firm Blockai has announced that it has raised $950,000 in investment money. The company has also rebranded by changing its name to Binded – a clear reference to the firm’s new focus on providing legally-binding copyright records for those who use its blockchain copyright service. That service is designed to provide artists and other content creators with a blockchain-based copyright system to help safeguard their intellectual property rights.
As TechCrunch recently reported, Binded’s influx of investment capital has come from investors that include Vectr Ventures, Tokyo Founders Fund, Mistletoe, the Japanese newspaper Asahi Shimbum, and others. According to the company’s CEO, Nathan Lands, the goal is to “democratize copyright” and create a copyright standard that can be applied on a global scale.
The Binded copyright service is designed to help content creators eliminate the need to register with the United States Copyright Office - a move that is currently necessary for creators who want to ensure that their work is protected in the event that copyright violation lawsuits need to be filed. As an alternative to that cumbersome process, Binded’s platform will provide those content creators with a way to create a permanent blockchain copyright record that can be legally recognized around the world.
The Binded CEO has also vowed to ensure that this copyright service will be provided at no cost to its users - forever. Lands has suggested that the company will develop different products to create revenue for the firm. To date, Binded has raised a total of $1.5 million to fund its operations and development efforts.