DeFiance Media, a video-news startup focused on coverage of the business and culture of the fast-growing decentralized finance (”DeFi”) sector, has launched with a presence on OTT and digital broadcast services reaching 65 million homes in the United States and abroad, and a new website providing enhanced coverage.
“We’re not taking the ‘Bloomberg for crypto’ approach” of some competing services covering parts of the blockchain world, Scarpa said. “None of them went on TV. We’re only streaming (video). If you look at mass media, and the way they’re portraying the decentralized narrative, there’s a real hole (in coverage) there, for covering it in a positive way.”
The 24/7 channel will feature a mix of original programming from notable personalities, third-party creators such as Hardcore Finance, news from across the world of blockchain, cryptocurrencies, non-fungible tokens and related areas, as well as related areas such as biotech, the artists and creators using NFTs, artificial intelligence, “connected living,” alternative energy, and “regenerative culture.” Other programming will come from partnerships with high-profile blockchain and cryptocurrency conferences.
“Our job is really more akin to a Huffington Post in terms of curation for these contributors,” Scarpa said. “We enable them to goose their personal brands. That’s our job, to increase carriage, to amplify their voice, promote what their doing.”
Scarpa said he was “adamant” about including cultural coverage of the blockchain space, particularly with NFTs, where many musicians, artists and other creative talent are eagerly jumping in.
“They’re in the space now, they’re artists doing really interesting work,” Scarpa said. “They’re really the cultural fabric of the community. If we were only a financial network, DeFiance wouldn’t be broad enough to be something providers want to carry.”
Scarpa, whom I’ve known socially for many years, served as New York bureau chief in the early days of CNET, which undertook in the 1990s to cover the emerging internet and tech industry in a focused way. Scarpa said he is taking inspiration for DeFiance from the approaches CNET took to industry coverage back then.
Services carrying the startup’s content include aggregators such as Local Now, Select TV, NetRange, Glewed TV, as well as Twitter and Amazon
Initial shows include Bitcoin: Culture Conversations, whose episode feature interviews of former Shark Tank star Kevin O’Leary, venture capital stalwart Tim Draper, actor Adrian Grenier and skateboard icon Tony Hawk, and musicians Blond:ish and Fab Five Freddy. Weekly programs will be hosted by Patrick Tsang, Sarah Austin, Matt McKibbon, Ted Moskovitz, Mike Matsumura, Alex Chizhik, Shimon Lazarov, Steve McGarry, Siraj Raval, and Freya Fox.
The company hopes to make money several ways: with ad-revenue shares from carriers, branded entertainment/sponsored content, events, content licensing to Getty Images and similar outlets, and transactional markets, among other potential opportunities.
DeFiance is based in Puerto Rico, and has a studio in the Venice neighborhood of Los Angeles, Scarpa said. But in keeping with its core subject matter, the operation is heavily decentralized, with contributors and programming coming from numerous cities.
The company has been raising a seed round of about $2 million, Scarpa said.
It counts among its investors and advisers a number of notables in the blockchain world and related areas, including investor Brock Pierce, who is long-time chairman of the Bitcoin Foundation; Eric Pulier, founder of Vatom; Doug Scott, founder of gaming culture company Subnation; Hong Kong investor and podcast host Patrick P.L. Tsang; Good Human co-founder and former Warner Bros. Entertainment VP James Glasscock; and Craig Sellars, co-founder/CTO of cryptocurrency services company Tether. Sellars and Pulier are credited as pioneering creators of the technologies behind NFTs.