NEW YORK--(BUSINESS WIRE)--Today, Now Media announced that it deployed on Base, an Ethereum L2 incubated by Coinbase, to advance the adoption of authenticated media as the industry standard for digital publishers. Now Media will power Sovereignty®, proprietary web3 CMS, on Base.
Now Media’s Sovereignty® enables digital publishers to certify that their content is genuine and enables readers to easily verify it. By leveraging Base’s immutable ledger to ensure proof of provenance, Sovereignty® will allow each piece of tokenized media to carry a clear and inalterable record of its creation, edits, and distribution. With Sovereignty®, digital publishers can expand content creation and consumption, revenue sources, and community retention.
"With Sovereignty®, we are building KYC for digital publishers," said Alejandro Navia, Co-Founder and President of Now Media. “In the age of AI and fake news, it has never been more critical to uphold the sanctity of information. Base is the perfect platform for Now Media to build Sovereignty® and make authenticated media a new industry standard. It is crucial that we build within a secure and robust ecosystem with best practices.”
Misinformation and fake news currently cost the global economy $78 billion per year. The development of powerful generative AI tools has contributed to a troubling rise in misinformation that threatens democratic and journalistic institutions, especially entering a U.S. election year. The World Economic Forum’s 2024 global risk report recently revealed that AI-derived misinformation and disinformation are the largest risks ahead of the election year. Sovereignty® was made to meet this pivotal moment for digital media leaders, who want to incorporate new technology into their newsrooms, to safeguard their content from bad actors, looking to manipulate their content.
"Over the past year, we’ve seen cases of misinformation spread on social media and move markets,” said Matt Medved, Co-Founder, CEO and EIC of Now Media. “As generative AI continues to develop, these attempts will only get more sophisticated. To remain credible, digital publishers need a strategy to introduce authenticated media and verify that their content is genuine.”
Now Media chose Base due to its safe, low-cost, and developer-friendly ecosystem built on the Optimism (OP) Stack in collaboration with the Optimism Foundation. By integrating with the Coinbase ecosystem’s millions of verified users, Now Media will be positioned to onboard the world’s leading digital publishers to authenticated media through its trusted platform.
“Base is committed to providing a safe, low-cost, and developer-friendly environment that empowers companies to easily leverage the latest advancements on chain to bring new technology products to market,” said Daryl Xu, Media and Gaming Lead at Base, “We look forward to supporting Now Media to bring Sovereignty® to the forefront of the digital publishing industry."
Now Media is the first media company to tokenize their content in this way and through this deployment with Base, they will expand to authenticate media for industry-leading publications to combat misinformation. Currently being used to authenticate media on nft now, Sovereignty® will launch in 2024.
About Now Media
Now Media is a media technology company that empowers digital publishers and organizations to authenticate their content. Since launching in 2021, Now Media has brought to market award-winning digital media platforms like nft now, innovative web3 products like Sovereignty® and the Now Pass, and world-class event brands like The Gateway and NFT100. nft now is the leading web3 digital media platform on a mission to empower the creators of culture and help bring the web3 movement from niche to mainstream.
