Camp Network Becomes Part of the Eterna Capital Portfolio
We are excited to officially announce our recent investment into Camp Network.
OFFICIAL ANNOUNCEMENT here.
Camp Network is a modular Layer 2 blockchain focused on creating a decentralized network of services geared towards the music, media, and entertainment industries.
Our investment in their $4m Seed round was led by Maven 11, with participation from OKX Ventures, Protagonist, Inception Capital, Paper Ventures, HTX, Merit Circle and Moonrock Capital among others. Angel investors such as the founders of EigenLayer, Sei Network and Selini also contributed funds.
For blockchain technology to achieve widespread adoption, the next evolution must prioritize consumer needs and experiences. Web3 naturally holds the potential to radically transform consumer experiences by leveraging the fundamental benefits of blockchain technology: decentralization, transparency, and security. Through this, industries can connect directly with their audiences, eliminating traditional gatekeepers and cultivating a deeper, more economically beneficial relationship with consumers. This also enables them to better interact with their audience through facilitating decentralized, immersive, and tailored experiences. This shift not only fosters a deeper and more financially rewarding relationship between these industries and their consumers but also revolutionises the nature of audience engagement.
While Web3 provides the infrastructure necessary to enhance consumer experiences significantly, in order to truly customize these experiences, access to user engagement data is essential. This data allows applications to gain a deeper understanding of user behaviours, enabling them to offer improved and personalized experiences. Moreover, this insight into user engagement opens the door to developing innovative use cases.
Through Camp, it is now possible to merge the benefits of Web3 with user engagement data. Camp is a modular Layer 2, focused specifically across the entertainment, media, and music verticals, that leverages offchain data to help applications increase their monetization and go-to-market strategies. Using their Layer 2, users can carry their “digital backpacks”, which are essentially an offchain identity layer, aggregating users’ identities from where they are most authentic and active: social and streaming platforms. This results in richer engagement data for applications built on Camp, leading to more targeted and sustainable user experiences, which in turn, can ultimately reduce customer acquisition costs and increase customer retention.
Camp has already secured a strong ecosystem of 20+ partners, several of which are natively incubated, as well as strategic collaborations with top-tier media conglomerates worldwide. This would not be possible without the founding team’s background and experience, who between them offer a wealth of experience across Investment Banking, Tech, and the Entertainment industry.
With our participation in this round, we are pleased to be part of Camp Network’s mission to redefine the future of onchain consumers.
About Camp Network
Camp Network is a modular Layer 2, focused specifically across the entertainment, media, and music verticals, that leverages offchain data to help apps increase their monetization and go-to-market strategies. Using their Layer 2, users can carry their “digital backpacks”, which consist of their off-chain identity layer primarily from social and streaming apps.
For more information, visit https://www.campnetwork.xyz/ or follow them on Twitter.
About Eterna Capital
Eterna Capital is an investment company focused on blockchain technology. Eterna Capital supports entrepreneurs that envision bold innovative ideas, and have the plan in place to make them happen. Eterna Capital is committed to help them reach their ambitious goals by providing unique insights and support.
For more information, visit www.eternacapital.com or follow us on LinkedIn and Twitter.
Disclaimer: This post is for general information purposes only. It does not constitute investment advice or a recommendation or solicitation to buy or sell any investment and should not be used in the evaluation of the merits of making any investment decision. It should not be relied upon for accounting, legal or tax advice, or investment recommendations. This post reflects the current opinions of the authors and does not necessarily reflect the opinions of Eterna Capital, its affiliates, or individuals associated with Eterna Capital. The opinions reflected herein are subject to change without being updated.
