360 Blockchain have announced that its wholly owned portfolio company Pressland have formed a commercial partnership with Membit, the creators of the Membit augmented reality (AR) photo-sharing app for iOS devices. 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 back in 2014, Pressland is aiming to relaunch this year as a blockchain-powered enterprise platform dedicated to fighting false news and misinformation. The unique technology of the platform will leverage human intelligence via paid microtasking, network analysis of the macro media ecosystem and automated data collection. Revenue streams planned for the platform that are planned include SaaS products, data licensing, premium memberships, white-label services and transaction fees. As the only AR app that allows users to place original content very precisely anywhere in the world without using markers, Membit is the ideal partner for Pressland.
“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.”
Both companies have also been in discussion to jointly build a commercially available app that would use Membit’s patented AR technology and Pressland’s data to help journalists validate and verify their reporting in the filed. This app would be released in early 2019 if put forward and be another advancement in the partnership between the two companies.
There are no final details on the financial terms of the partnership but planned licensing fees are expect to be based on metered access to Pressland’s API. As part of the deal, Jeff Koyen will join Membit’s advisory board in non-compensatory role to consult on media-related innovations. As the partnership continues VRFocus will be sure to keep you up to date on all the latest.