MrBeast and KSI invest in crypto marketplace Xcad Network - Dexerto
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MrBeast and KSI invest in crypto marketplace Xcad Network

Published: 17/May/2021 19:16

by Adam Fitch

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Popular YouTubers and entrepreneurs Jimmy ‘MrBeast’ Donaldson and Olajide ‘KSI’ Olatunji have invested in Xcad Network, a monetization platform and NFT marketplace for YouTube.

While the financial details are unknown at the time of writing, Xcad Network have welcomed both of the content creators as investors as they aim to help the next generation of YouTubers better monetize their content.

This news quickly follows a funding round held by the company, in which they raised $3.9m to begin with the building of their platform. They’re set to announce more popular creators as investors in the coming days.

The involvement of both KSI and MrBeast is thought to be seen as a major endorsement of the platform and the mission that’s driving those behind it, though it’s unknown if they’ll be involved in selling products on the marketplace once it’s launched.

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MrBeast Current Investment
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MrBeast has made a series of investments as of late, aiming at companies that are helping with monetization in the creator economy.

Xcad Network will construct a plugin for YouTube that allows “content creators to tokenize themselves” and helps viewers to earn rewards from watching and engaging with their content. This functionality will be available directly on the Google-owned video platform.

MrBeast has been on an investing spree as of late, injecting cash into mobile banking company Current and Juice, a venture that provides equity financing to YouTubers.

KSI, on the other hand, has said to have invested a lot into cryptocurrencies and real estate — the latter of which he’s described as a “£10m empire.”

“The Xcad Network will enable greater engagement amongst YouTubers and their viewers, providing the ability to monetize activity via a tokenized economy that rewards users for engagement and viewer loyalty,” said Xcad Network co-founder Joel Morris.

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“Mass adoption is the end goal here, KSI & Mr Beast investing is one giant step towards that goal.”