Veritone, Inc. Announces Agreement with RECUR to Create Non-Fungible Tokens Using Licensed Pac-12 Networks Content in New College Sports Marketplace
September 13, 2021 at 10:00 am EDT
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Veritone, Inc. announced an exclusive agreement with RECUR to create NFTs, initially with Pac-12 Networks athletics video content. This content will be available in a new NFT community and marketplace called NFTU—the official collegiate destination. RECUR designs and develops on-chain experiences that allow fans to buy, collect and resell non-fungible tokens (NFTs) as digital products and collectables. RECUR is changing the NFT market by creating a new ecosystem which enables brands to have the widest-possible range of distribution. The company standardizes recurring royalties minted on any cryptocurrency, keeping NFTs chain-agnostic and drawing more fans into the crypto ecosystem. Veritone is the exclusive licensing partner for Pac-12 Networks and will coordinate with student-athletes to obtain authorization to use their highlights, in accordance with the Pac-12 NIL Licensing Program. With RECUR, Pac-12 Networks will make video highlights of Pac-12 moments across all sports available for NFT creation. RECUR’s NFTU experience and marketplace—for the first time—will allow college sports fans to own the great highlights from college sports, starting with the most memorable Pac-12 moments. As experts in their respective spaces, and in partnership with the Pac-12 Network, Veritone is able to navigate the complexities of a multi-rights environment to offer great moments from across the Pac-12, for every sport and for every fan. Veritone continues to push the industry in technological advancement. Its AI-powered licensing portal allows users to easily search for photo, audio and video clips across Veritone’s media partners including the NCAA, CBS News, Bloomberg, the United States Tennis Association and many more. Partnering with RECUR to offer NFTs in this space is the next evolution of the Veritone licensing platform.
Veritone, Inc. is a provider of artificial intelligence (AI) computing solutions and services and certain advertising and licensing services. The Companyâs proprietary AI operating system, aiWARE, uses machine learning algorithms, or AI models, together with a suite of applications, to reveal valuable insights from vast amounts of structured and unstructured data. aiWARE serves as the foundation for its AI solutions and bespoke applications and offers access to hundreds of cognitive engines through one common software infrastructure. Its aiWARE platform offers capabilities that are designed to mimic human cognitive functions such as perception, prediction and problem solving, enabling users to transform unstructured data into structured data, and analyze and optimize data to drive business processes and insights. The Company also offers cloud-native digital content management solutions and content licensing services, primarily to customers in the media and entertainment market.