This is a major IP and AI production drive, for Iconic Arts.
“Iconic Arts, a new Transmedia entertainment studio launched by Steven Haddadian, Alec Roth, Matthew Medney, Mo Yazdani, and Jack Sheehan, announced it raised $3.1 million in funding at a $20 million pre-seed valuation. The company also opened its doors in LA and Tokyo.”
Should we be worried at the gap between a pre-seed valuation and the amount raised? Does that mean it’s over-valued or under-funded for what the company is hoping to create? Or is this totally normal in terms of speculative Transmedia companies?
The founder had this to say:
Motoki Tani (who was previously the Head of Trading at JP Morgan and Managing Director at Hong Kong-based Millennium)
“We are applying a Silicon Valley approach to the hit-driven models of Hollywood and gaming studios, cutting costs and risks in developing original IP, with timeless storytelling at the heart of our business.”
We wait to see how this company develops a synergy between AI and its IP to attract an audience.
https://pulse2.com/iconic-arts-raises-3-1-million-and-opens-entertainment-studio/
1 person likes this
Very interesting. Will certainly be following this.
1 person likes this
Good questions and interesting business model. It will be worth watching as Sam Sokolow suggests.