AlphaNetworks

About AlphaNetworks

AlphaNetworks.io, founded in 2018 by Seth Shapiro, aimed to address inefficiencies in the media industry through a blockchain-powered entertainment platform. Shapiro, a two-time Emmy award winner and an Adjunct Professor at the USC School of Cinematic Arts, leveraged his extensive experience in television and digital media to guide the company's vision. His background includes work with major studios and networks, providing him with deep insights into the industry's systemic problems, which he aimed to solve with AlphaNetworks.

The company developed a platform that integrated aspects of subscription VOD, targeted advertising, and pay-per-view models, targeting content creators, viewers, and advertisers. The business model was designed to offer content creators more pricing freedom and improved monetization based on a viewership algorithm, complemented by AI-powered audience analytics. For viewers, the platform promised a tokenized experience where they could pay for content and even earn rewards for activities like watching ads. The core of the platform was a proprietary algorithm called “Proof of Engagement” (POE), which used a blockchain to transparently record all user interactions with content, such as video views. This system was intended to ensure that content providers were fairly compensated based on verified engagement, while user data remained anonymized.

In September 2018, AlphaNetworks announced it had raised $10 million in a funding round led by Alphabit Digital Currency Fund and other crypto investors. The company also formed strategic partnerships, including with IBM for its Watson AI technology and RadicalMedia for content production. Despite these developments and its ambitious goals, PitchBook data indicates that the company is now out of business as of August 2022.