- The deal will enable Perception to provide telco operators to launch multi-channel internet TV services simply and with no capex globally.
CEOs of Nexthash and Perception CDN comment on the announcement
Ahead of the Singapore FinTech Festival which launches on the 11th November, today, Nexthash Group has been awarded the exclusive deal for structuring and distribution rights for Perception CDN’s token offering as part of $40m raise. The growth finance will be used to roll out a new global TV content distribution network which simplifies the process for telcos or other operators to launch multi-channel internet TV services. The token will be hosted on Nexthash Group’s Nexinter exchange platform, allowing in the future retail and institutional investors to trade and exchange globally, 24 hours a day, 7 days a week.
The Perception Equity Token (PET) will be launched on 1st December 2019 and will be available to early-stage retail and institutional investors in January 2020 [dates to be confirmed].
Daniele Mensi, CEO of Nexthash Group, commented on the announcement: “We are thrilled to be partnering with Perception CDN to structure and distribute its token offering. It is a hugely exciting industry in which Perception CDN is at the cutting edge. Despite many saying traditional TV is dead, Netflix recently defined its key competitor as live TV, noting that Netflix has less than 10% of TV screen time even in its most mature market. Now, multichannel linear TV offerings are emerging in the OTT TV space and telcos are ideally placed to market low-cost bundles of popular local channels enriched with catch-up features to their broadband subscribers. Perception CDN is capitalising on this trend and we are very excited to join them on their journey.”
John Mills, Chief Executive of Perception, commented: “Nexthash Group have demonstrated a real passion for our service offering and we are very pleased to award the exclusive deal for our token structuring and distribution as part of our $40M raise. Clearly, people like linear TV still. But no one really likes the rigid viewing schedule. Our Perception TVCDN OTT platform takes linear channels and turns them automatically into interactive catch-up TV experiences. There are many CDNs moving bits around the internet, but only Perception TVCDN was designed from the ground up for the exacting needs of multichannel internet TV.
Our TVCDN will initially be a global network in strategic internet hub locations worldwide which can then be extended at no cost to the operator into individual telco networks. London is already live and we have proven the CDN software in on-premise deployment in 8 countries which this raise will support. We are excited to partner with Nexthash Group to fulfil this and are confident for a strong growth trajectory into 2020 and beyond.”