- Mash closed a $6 million seed spherical led by Castle Island Ventures and Whitecap Venture Partners.
- The firm leverages a usage-based fee mannequin that lets customers select what they spend cash on, relatively than charging flat charges.
- Users of Mash could have entry to a local digital pockets which will be loaded by bank card or bitcoin pockets transfers.
Mash, a funds infrastructure firm that leverages Bitcoin’s Lightning Network, has accomplished a $6 million seed funding spherical co-led by Castle Island Ventures and Whitecap Venture Partners, in accordance to a press launch despatched to Bitcoin Magazine.
Mash leverages a brand new “pay-as-you-enjoy” usage-based mannequin which permits customers to stream bitcoin instantly to the creator of the content material they need to take pleasure in.
“Online content monetization is deeply broken today,” mentioned Nic Carter, normal accomplice at Castle Island Ventures, who joins Mash’s board of administrators following the funding. “As a scalable, data-efficient, and high-granularity system, Bitcoin’s Lightning Network is uniquely suited to solving this problem, and Mash employs it wonderfully.
Mash seeks to remonetize the internet by eliminating initial barriers preventing content consumption on applications. It aims to accomplish this goal by removing standard subscription fees, ad revenue schemes that collect data and aggregators that censor, restrict and control platforms in favor of bitcoin.
Usage-based revenue models can allow creators, builders, developers and others with projects that may not possess the know-how to support a Bitcoin ecosystem. This enables users to enjoy and browse content in a way that offers consumers the ability to choose how they spend their time and money within the application.
Mash boasts previews – the ability to try content before choosing to spend bitcoin to consume it. Customers can utilize a digital wallet native to the application, which can be funded with a credit card or with external bitcoin funds, to opt into an auto-pay function to prevent the interruption of content as well as spending controls to prevent overspending.
“Bitcoin and Lightning are transformative, redefining money on a global scale, creating the perfect opportunity for us to change the fabric of all online experiences and unlock fundamentally new business models that reward and incentivize the proliferation of quality, trusted and high-value experiences,” mentioned Jared Nusinoff, founder and CEO of Mash.
Mash intends to use the funds raised for constructing out and commercializing its Bitcoin and Lightning Network funds platform.
