FMW Media Invests $10 Million in Singapore’s Spinel Network to Fuel Global Expansion with Web3 and AI Technologies

FMW Media Invests $10 Million in Singapore’s Spinel Network to Fuel Global Expansion with Web3 and AI Technologies

New York, September 17, 2024 — FMW Media has announced a strategic investment of $10 million in Spinel Network Pte. Ltd., acquiring a 10% stake in the Singapore-based company. This investment, which includes both media and cash components, will support Spinel Network’s expansion and enhance its visibility through FMW Media’s extensive national and international television platforms.

Spinel Network, renowned for its decentralized computing network powered by AI, aims to transform content creation and distribution. The company's Web3 technology, recognized as one of the top five winners in the BNB Chain’s Web3 Stars Accelerator 2022, has garnered significant attention for its innovation in enhancing social media content through AI. Spinel Network’s platform addresses societal needs by creating sustainable income streams for contributors and has received accolades for its technological advancements.

Viet Nguyen, CEO of Spinel Network, expressed enthusiasm about the partnership, stating, "We are honored to receive this strategic investment from FMW Media. We look forward to our upcoming interviews with New to The Street at major U.S. stock exchanges like NASDAQ and NYSE, which will boost our expansion efforts in the U.S. and globally."

FMW Media’s involvement will include producing and broadcasting Spinel Network’s shows and advertisements across its syndicated platforms, including Newsmax, FOX Business Network, and Bloomberg TV. The company plans to highlight Spinel Network’s innovations and global business operations, aiming to inform and engage viewers about the firm’s progress and achievements.

Vince Caruso, Founder and CEO of FMW Media and Producer at New to The Street TV, commented, "We believe Spinel Network is poised for tremendous growth in the U.S. market. Their technology promises to benefit a wide array of artists and content creators by providing innovative solutions for content monetization and trend enhancement. Our partnership will ensure that Spinel Network's advancements receive the attention they deserve."

The investment comes as the global digital landscape continues to evolve rapidly. According to a report by Global Digital Insights, social media users now exceed 5 billion, spending over 10 billion hours daily on these platforms. The rise of online advertising is also notable, with spending expected to grow at over 16% annually, reaching $4 trillion by 2027, as highlighted by IDC analysis.

Spinel Network’s platform includes several key technologies:

• Decentralized Computing Network: Utilizing a peer-to-peer distribution system to maintain a balanced and efficient network without centralized power.

• AI Content Generation: Collecting vast amounts of data to build a comprehensive content repository, with AI models enhancing content visibility and engagement.

• AI Boost Ranking: Employing advanced AI models to optimize content trends and rankings, leveraging large language models to refine and enhance performance.

The company’s innovative approach is supported by its robust infrastructure, featuring over 2,000 high-speed servers and a team of 200 specialists in blockchain, AI, and social media.

FMW Media’s New to The Street has a long-standing reputation for delivering biographical interviews and updates across major U.S. and international networks. The partnership with Spinel Network marks a significant step in broadening the company’s global reach and influence.