Data-licensing deal with Membit Inc. also includes plan to jointly develop commercially available AR-based journalism app
Vancouver, BC -- (ReleaseWire) -- 07/20/2018 -- 360 Blockchain Inc. ("360" or the "Company")is pleased to announce that its wholly owned portfolio company Pressland has signed a letter of intent to form a commercial partnership with Membit Inc., maker of the Membit augmented reality (AR) photo-sharing app for iOS. The New York City-based startup will license Pressland's data to help verify original journalism produced on its platform.
"Augmented reality is one of the most exciting, fastest-growing sectors in tech," said Pressland's founder and CEO, Jeff Koyen, "and its applications for media and journalism are only starting to be realized. We're thrilled that Pressland's verified directory of working journalists will contribute to Membit's ongoing innovation in this space."
Founded as "Yelp for Media" in 2014, Pressland is relaunching this year as a blockchain-powered enterprise platform dedicated to fighting false news and misinformation. Pressland's unique technology leverages human intelligence via paid microtasking, network analysis of the macro media ecosystem and automated data collection. Planned revenue streams include SaaS products, data licensing, premium memberships, white-label services and transaction fees.
Membit is the only augmented reality app that allows users to place original content very precisely anywhere in the world without using markers.
"Our app is ideally suited for enterprising journalists who want to offer more in-depth reporting to their audiences," said Membit's founder and CEO Jay Van Buren. "By incorporating Pressland's data into the app itself, we can allow our users to evaluate the reporters' reputations to be sure they're getting information from someone they trust."
The two companies are also in discussions to jointly build a commercially available app that uses Membit's patented AR technology and Pressland's data to help journalists validate and verify their reporting in the field. Preliminary roadmaps call for this app to be released in early 2019.
Financial terms of the partnership and app development deal are not yet determined. Planned licensing fees are expected to be based on metered access to Pressland's API. As part of the deal, Jeff Koyen will join Membit's advisory board in a non-compensatory role to consult on media-related innovations.
About 360 Blockchain Inc.
Our Mission: To empower blockchain technologies with capital and experience to create exponential value.
Company Description: 360 Blockchain Inc. has an all-round view to accelerate the development and application of revolutionary blockchain technologies by investing capital and expertise. We are founded on the belief that blockchain technology, essentially a distributed ledger which is transparent and incorruptible, has the potential to transform the way business is conducted, delivering security, cost savings and efficiency gains not seen before in our internet connected world. 360 Blockchain will be focused upon identifying and empowering blockchain technologies applying to cryptocurrencies, smart contracts, eSports, data management, the internet of things, equity trading, privacy applications and beyond.
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