ConsenSys, a leading Ethereum software company, today announced the acquisition of the Treum team and its NFT platform from Mesh, a Web3 incubator, for an undisclosed amount. With this acquisition, ConsenSys is welcoming a team of creators, product managers, and software developers who have pioneered use-cases of Non-Fungible Tokens (NFTs) since their formation in 2017.
This strategic decision comes following the formation of the Palm NFT network, an NFT ecosystem that was launched in March 2021 by ConsenSys, HENI Group, and Heyday Films. The Treum acquisition will allow ConsenSys to significantly advance its NFT technology offering for creators, brands, rights owners, game publishers, sports teams, and leagues.
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 $3M in March following the launch of “Genesis” earlier this year.
The EulerBeats NFT platform was described by entrepreneur Mark Cuban as “the most genius idea ever” and has distributed millions in royalties and staking rewards to its users. The EulerBeats Club, a token gated space (accessible only to the ones wearing the EulerBeats headset) were informed of the next drop coming in November called “Futura” which will pave the way for an open platform enabling musicians to sell their STEMS, let fans buy randomized mixes, and permits creators to remix versions of originals.
“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.”
– Johnna Powell of ConsenSys
Treum + ConsenSys
In June 2021, Treum partnered with 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’ 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.
“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.”
– Tyler Mulvihill, Co-Founder of Treum