VERO Labs Partners with Avalanche to Empower Creators and Fans

VERO Labs will launch a custom L1 blockchain on Avalanche to support creators, empower fan engagement, and unlock new revenue opportunities.

Social technology firm VERO Labs has announced its plan to launch a custom Layer 1 (L1) blockchain on the Avalanche network. According to the press release, this development will be unveiled during Abu Dhabi Finance Week.

The L1 blockchain will support VERO’s Community Finance (CoFi) model, which helps creators, sports teams, and IP owners raise funds from fans. This approach, in turn, strengthens fan engagement and fosters a deeper connection. The latest Avalanche9000 testnet also means faster transactions, more security, and better scalability for VERO users.

“This is a major move for community finance,” said John Nahas, Chief Business Officer at Ava Labs. “VERO has an incredible ability to enhance audience engagement between creators and viewers, and to support the growth of communities and valuable, long-term opportunities. Together, we are working to empower superfans and expand participation.”

VERO Partners with Avalanche to Empower Creators and Fans

VERO Labs works with licensed IP holders across different areas of specialty such as sports, movies, television shows, and music to foster participation. The platform helps creators extend token-accessed features, content, and artwork with limited availability. VERO Labs has all the licenses for banking, broker-dealer, and ATS operations, this means that this company can effectively control the trading of securities and digital assets. This structure enables fans to incorporate their favorite creators’ success through asset tokenization.

The integration is also deemed to be strategic by Ayman Hariri, the CEO of VERO Labs. He pointed out that expansion on Avalanche would help improve VERO’s capacity. Consequently, this will offer more solutions for creators and fans to engage and monetize. Further, Hariri noted that the partnership would enable creators to construct better digital environments surrounding fans.

“Our partnership with Avalanche is a natural progression in our mission to empower creators and fans,” said Hariri. “Expanding on Avalanche will enhance VERO’s capabilities to offer more solutions for creators and fans to connect, engage and monetize. This structure will enable creators to build stronger digital communities around their work and open up new possibilities for fans to participate in the success of their favorite creators, teams, and franchises.”

Moreover, the launch represents a paradigm shift in how content producers can generate revenue. The CoFi model of VERO provides more control over earnings rather than relying on more conventional monetization strategies. This model is on the verge of expanding as the digital asset market grows.

For creators, opportunities in the metaverse have been a point of discussion for a long time now, and the cooperation of VERO and Avalanche also intends to build a more inclusive world. It is in this regard that this approach could help more creators to benefit from fan funded financial models. It will allow fans to become stakeholders in the success of creators, teams, and franchises. This change is expected to herald new opportunities for participation in digital media, sporting, and entertainment activities, and to ultimately unlock new avenues for economic development.