Creator and media monetization protocol Access Labs has procured $1.2 million in Seed funding from prominent investors such as Sora Ventures, DV Ventures, CMS Holdings, and DoublePeak, paving the way for an innovative monetization method within the crypto space.

The Access Labs model enables users to lock the native ACS token in a creator’s pool in exchange for a product or service. As a result, a novel and engaging ecosystem is being fostered for creators of varying sizes and expertise, including CryptoSlate Alpha.

Mika Honkasalo, Access Protocol founder, emphasizes the company’s mission, stating,

“We’re in the early stages of building a monetization ecosystem for creators of all shapes and sizes. We are set to build products and tools creators are used to in web2, super-powered only by what can be built on Web3 rails.”

This expansion comes following Access Protocol’s day-one listing of an SPL Token on Coinbase on Feb. 15. Since its launch, Access Protocol has accrued over 220,000 unique subscribers across its content offerings. Notably, existing publications and service providers such as CoinGecko, The Block, CryptoSlate, DeSpread (South Korea), and Crypto-Times (Japan) are leveraging Access for web3 monetization.

In addition to its fundraising success, Access Labs has also unveiled a beta of its independent publishing platform, Access Scribe. This platform offers a robust alternative to Substack or Mirror and has built-in web3 monetization capabilities.

Platforms such as Taiwan-based media outlet WuBlockchain and South Korean research and consulting firm DeSpread have been among the first to utilize this innovative resource.

From a broader perspective, Andreas Nicolos, Access Labs Head of Ecosystem Growth, contends that non-fungible tokens (NFTs) are the next focus area for their product suite. He states,

“Barriers to entry into Web3 are too high for traditional media firms. We’ve seen incumbent media companies allocate massive amounts of resources to web3 strategies that lack depth and business continuity.

The industry needs a no code, one-stop shop platform where any creator can grow and develop a foundation of user relationships on chain.”

Underlining the significance of this development for the broader Web3 space, DV Ventures, the venture arm of Chicago-based DV Trading, emphasized its excitement to further its involvement in Web3, stating,

“New monetization models are fundamental to the promise of the crypto industry, and Access stands to emerge at the forefront in the digital content space.”

The fundraising achievement and subsequent developments signal Access Labs’ commitment to fostering an innovative ecosystem for creators. As the crypto industry continues to evolve, Access Labs’ advancements could serve as a catalyst for unprecedented growth within the web3 content and digital content spaces.

Disclaimer: CryptoSlate, a media partner of Access Protocol, received a grant.

Disclosure: Sora Ventures is an investor in CryptoSlate.