Mad Realities raised $6 million to bring unscripted TV to Web3

Future. Web3 entertainment company Mad Realities is bringing the tried-and-true genre of dating competitions to Web3 — and it’s already finding success with its first show, Proof of Love. On the heels of its success, the company has raised $6 million to create a streaming home for NFT-backed unscripted television. By targeting such a specific niche, Mad Realities may find success by being the first one out the gate.

The Bachelor of the blockchain
Mad Realities wants to be “MTV of a new type of TV.”

• Founded by Devin Lewtan (of NYU Girls Roasting Tech Guys fame) and Alice Ma, Mad Realities recently raised $6 million in pre-seed funding led by Paradigm, with additional funding from firms like Index Ventures and Paris Hilton’s 11:11 Media.
• It plans on using the funding to lay the foundation for building its own reality-TV streaming platform that users can subscribe to through NFT purchases (as opposed to a monthly payment).

The company came to prominence thanks to its debut show, Proof of Love — an interactive and NFT-powered reality dating show that streams on the company’s site and YouTube channel. According to Insider, the show’s NFT — “Rose Ticket” — gives holders the power “to vote contestants onto the show, participate in a live chat during filming, or even pick the wardrobe for a contestant.”

The show is only four episodes in and has already raised $494,798 in NFT sales — nothing gets people hooked quite like a dating competition.