The New Computer Corporation Becomes Part of the Eterna Capital Portfolio
We are excited to officially announce our recent investment into The New Computer Corporation (NCC).
OFFICIAL ANNOUNCEMENT here.
The New Computer Corporation (NCC) is a Web3 Product Studio deploying simple, scalable, integrable products to provide developers with utility and infrastructure tools to seamlessly build fun, collaborative, and creative experiences on Web3. Using Algorand blockchain technology as the foundation, NCC is committed to helping build a new creator economy that leads with transparency and puts internet fun first.
Our investment in their latest $2.5m Seed round was led by Borderless Capital with participation from other leading investors such as the Algorand Foundation, Hivemind Ventures, Big Brain Holdings, PEER, Web Tree Capital, among others.
The global internet promised to democratize publishing and facilitate equitable flow of revenue. Yet, the current Web 2.0 prevents the majority of creators from seeing the vast consolidation of wealth that is created. This is due to a broken model where centralized platforms, such as Twitch, Patreon, and Spotify take an unfair percentage of ad revenues and fees. While the Web 2.0 model can be a great source of revenue for the top creators, they leave out the ‘lower-middle class’ creators. As a matter of fact, the top 1.4% artists on Spotify account for 90% of royalties, which equates to around $22,395 per artist per quarter. The remaining 98.6% of artists on Spotify make on average $36 per artist per quarter. Web3’s significant growth has opened up new opportunities and revenue streams for the creator economy.
The NCC believes that with the right tools and through utilizing one of the most powerful characteristics of blockchain — composability — the internet has the capacity to help rebalance the scales of commerce in favour of creators. As such, NCC is announcing the Beta of its Decentralized Application Program Interfaces (dAPIs), that are interoperable, allowing different apps to “speak” to each other, creating infinite possibilities for customers building web3-compliant applications and platforms. Like “Switzerland for web3” in its non-partisan neutrality, the familiar modular format and interoperability of the toolkit empowers developers to construct and combine a stack of services seamlessly.
Developers can build on top of:
· STOI: a micro-DAO (m-DAO) that tokenizes fractional ownership and automates revenue distribution among owners, fans, and rights holders
· Bricks: a token standard and exchange protocol for media streams that enables smart contracts (one stream = one token)
· TTM: token-targeted on-chain messaging protocol
· Project Rodeo: Create, assign, manage and reward milestones on-chain
· Inkey: embeddable micro-wallet that simplifies the dApp onboarding process
NCC plans to use the funds to expand its engineering and product team. The company will continue to build more dAPI services that are easily stackable and provide developers with the tools they need to build services for creators and publishers who want to make a better internet.
We are excited to be part of the NCC’s mission to enable economic transparency and equitable revenue to online creators.
About The New Computer Corporation
The NCC is thrilled for the third chapter of the web! This is our collective opportunity to align economics and creativity and we’re here to help. We believe that when applied properly, web3 economics can fix problems with ownership, identity, payments, attribution, tracking, and more. So we’re building tools that will help you build your own cultures and have fun while doing it.
NCC was co-founded by Benjamin Palmer and Aubrey Anderson in Fall ’19. Ben and Aubrey previously co-founded the Barbarian Group and have a lifelong commitment to making the internet a fun place.
For more information, visit https://ncc.la.
About Eterna Capital
Eterna Capital is a London-based 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 Eterna Capital 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.
