The Aptos Foundation has announced a strategic partnership with Web3 streaming platform myco to accelerate mainstream adoption of Web3 entertainment.
Aptos (APT) is a layer-1 blockchain platform for smart contracts and offers a decentralized and highly scalable network.
The Aptos Foundation’s integration with myco, formerly Mcontent, will see the web3 streaming platform bring more than 13 million users and 3 million active monthly viewers onto Aptos, the two platforms said in an announcement.
myco to bring Web3 content to Aptos
Myco will leverage this partnership to bring its platform’s content, including documentaries, movies, and live sports, to Aptos L1. The platform will also integrate user-generated content, which is expected to go live on-chain by the end of the year.
— Umair myco (@umairmasoom) August 21, 2024@myco_io is proud to be announcing our ground breaking partnership with @Aptos
Since the inception of myco, we have been talking about streaming being the Trojan horse for web3 adoption. While many key industry stakeholders took a while to understand this, several #web3… https://t.co/jqXVEbUlTF
This latest partnership adds to recent developments around Aptos’s growing market presence, including the collaboration with Alibaba Cloud to boost Japan’s Web3 ecosystem.
Earlier this year, Aptos partnered with Jambo to advance the digital economy and web3 adoption in emerging markets.
Web3 streaming and entertainment market
While the global streaming market continues to see a few traditional giants dominate, Web3 is taking shape with several projects across the industry.
There are blockchain-based content creation and streaming platforms leveraging decentralized infrastructure and crypto-based incentivization, among other Web3 features. Aptos’ and myco’s collaboration is part of the broader shift.
Some of the top projects in this market include the decentralized video streaming platform Livepeer (LPT), the Web3 music streaming site Audius (AUDIO), and Theta Network (THETA), the decentralized cloud for artificial intelligence, media, and entertainment.