Mediachain announced Wednesday it has been acquired by music streaming giant Spotify for an undisclosed amount.
The startup developed proprietary neural network software called the Mediachain Indexer Core to spot the signs of the alteration of images and songs online in an attempt to get proper credit for the content’s original creators. It then took that information and displayed it in a searchable database, built on a blockchain, so that the information would be decentralized and not able to be tampered with.
Mediachain raised $1.5 million last year, in a seed round led by Andreessen Horowitz and which included Union Square Ventures and Reddit’s Alex Ohanion.
— Jesse Walden (@jessewldn) April 26, 2017
Last year we covered the startup, asking an artist who’d had her work go viral online after it was screenshot and no longer connected with her name, what she thought of the product (she liked it).
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