NEW YORK, October 12, 2021 – Today, Consensys, announced the acquisition of the Treum team and its NFT platform from Mesh, a Web3 incubator, for an undisclosed amount. Through this acquisition, Consensys is welcoming a world-class team of creators, product managers and software developers who have pioneered use cases of Non-Fungible Tokens (NFTs) since their formation in 2017.
The Treum acquisition will allow Consensys to significantly advance its NFT technology offering for creators, brands, rights owners, game publishers, sports teams and leagues. This strategic decision further affirms Consensys’ commitment towards NFT use cases, following the formation of the Palm NFT network, a NFT ecosystem that was launched March 2021 by Consensys, HENI Group, and Heyday Films.
It has been a busy year for the Treum team with the launch of EulerBeats.com, an Ethereum-based Non-Fungible Token (NFT) music and art project that features algorithmically-generated art and audio tracks. Its second collection of tracks sold for $3 million USD in March following the successful launch of “Genesis” earlier this year. The EulerBeats NFT platform has been described by entrepreneur Mark Cuban “the most genius idea ever,” and it has distributed millions in royalties and staking rewards to its user base. The EulerBeats Club, a token gated space accessible only to the ones wearing the EulerBeats headset (recently launched) were informed of the next drop “Futura” next November. Futura will pave the way for an open platform that lets musicians sell their STEMS, lets fans buy randomized mixes, and lets creators remix versions of original creations.
In June 2021, Treum partnered with renowned text and multimedia based visual artist Jonathan Rosen to release “The Biggest Drop”, now known as “The Dream Machine,” a limited set of NFTs exhibited first on a 36-screen digital facade on Oxford Street in London and that was displayed on Nasdaq’s seven-story tower in Times Square, New York. The Treum team is also behind several leading NFT issuances such as NBA League's first live blockchain-powered live auction platform for authentic memorabilia with American professional basketball team Sacramento Kings in 2020.
Users of Consensys' NFT technology will be able to leverage its integration with Consensys' world-leading Web3 products such as MetaMask and Infura. Consensys’ NFT business will be co-led by Johnna Powell from Consensys and Tyler Mulvihill, a Treum co-founder, and advised by Kishore Atreya, a Treum co-founder.
"Consensys is on a mission to unlock the power of communities and to make Web3 universally easy to use, access, and build on. Today MetaMask is used by more than 10 Million monthly active users, and many of them use the platform to collect NFTs. It was an obvious decision for Consensys to accelerate the development of our full-fledged NFT platform for end-users and builders," said Johnna Powell.
Tyler Mulvihill added, "The Treum team has built the leading NFT full lifecycle platform and we're excited to carry on our exponential journey with the global reach of Consensys. We will continue to serve our major IP property customer, deepen our development of the metaverse, launch bleeding-edge NFT drops, and onboard the next 100mm users to the Web3 community. If you love blockchain and NFTs, Consensys is the place to be - we're hiring."
People interested in learning more about Consensys’ NFT strategy for brands, creatives, and technologists, can join this webinar on Tuesday, October 12.
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Consensys is the leading Ethereum software company. We enable developers, enterprises, and people worldwide to build next-generation applications, launch modern financial infrastructure, and access the decentralized web. Our product suite, composed of Infura, Quorum, Codefi, MetaMask, Truffle, Diligence and our NFT platform, serves millions of users, supports billions of blockchain-based queries for our clients, and has handled billions of dollars in digital assets. Ethereum is the largest programmable blockchain in the world, leading in business adoption, developer community, and DeFi activity. On this trusted, open source foundation, we are building the digital economy of tomorrow. To explore our products and solutions, visit https://consensys.io.
About Consensys Mesh
Founded in 2015 by Ethereum co-founder Joseph Lubin, Consensys Mesh is an accelerator and incubator of blockchain technology solutions. Their mission is to champion global adoption and awareness of groundbreaking technologies in Web 3.0 and DeFi. Mesh includes a portfolio of 130+ equity and token positions, runs the Tachyon startup accelerator, operates an R&D team making meaningful contributions to the Ethereum ecosystem, and has successfully incubated companies such as Gitcoin, Decrypt, Treum, Consensys Software Inc., and more. This interconnected network is a place for the next generation of blockchain technologies to take shape and great entrepreneurs to flourish. To learn more, visit https://mesh.xyz/.