Mumbai, India, September 6, 2022: Eros Investments, a leading Global Media, Entertainment & Technology portfolio of ventures, announced an acquisition of ENT Global to form a strategic partnership with L3COS, for the mass adoption of Web3 creator ecosystem.
Later this month L3COS will launch the world’s first ever Fiat-on-Chain with three initial currencies - EUR, GBP and USD - all of which are fully 1 to1 cash backed and safeguarded with central banks.
The FoC (Fiat-on-Chain) will be used for payments and transactions by launch partners AgriDex, the global supply chain marketplace for the agriculture and food industry and ENT Global, the digital rights management company now owned by EROS Investments.
The closed loop native marketplace for celebrities and creators will be live soon, with an initial $500 Million of Fiat-on-Chain (FoC) deposits. Every participant transacting on the L3COS platform will have a KYC/AML screened unique and verified digital identity, to enable individuals, businesses and governments to interact and trade in a safe and regulated way on a global scale. This frictionless trade is facilitated using smart contracts and currencies of the end user’s choice. Revolutionary FoC (Fiat-on-Chain) technology delivers real-time settlement (Real Time Gross Settlement) of all transactions within the L3COS ecosystem.
Eros Investments & ENT global will power the entertainment and sports marketplace with digital rights management in partnership with L3COS. The partnership enables the companies to come together creating the first Web3 entertainment ecosystem, enabling creators and fans to interact directly for buying, selling and trading of various digital assets.
“As we ready ourselves for this industry evolution Eros is pleased to be able to create a first of its kind worldwide marketplace that eradicates barriers to entry for consumers transacting on a blockchain ecosystem. With central bank safeguarding, consumers will be able to confidently for the first time transact in an entertainment digital marketplace with fiat on chain capability. This is the next stage of evolution in commerce and we are excited to pioneer disruption with L3COS” – Kishore Lulla, Chairman Eros Investments.
“We are extremely excited about new partnership with Eros Investments & ENT Global to offer our Web3 solution for entertainment and sports industries which brings together creators, athletes and entertainers and allows them to develop and trade digital intellectual properties – from event tickets, art, games and merchandise – directly with their fans worldwide, without any middlemen or risk of fraud” – Zurab Ashvil, founder L3COS.
About Eros Investments
Eros Investments is a venture with assets in media, sports, blockchain, digital commerce and gaming. Its portfolio companies include Eros Media World, Eros Now, Xfinite’s Mzaalo, EXR, and Eros Innovations. Disruption is at the heart of Eros Investments, and its core culture is deeply rooted in next-generation intellectual properties with technology as the driving force. Its blockchain, sports, and entertainment ventures have been game changers with a solid first mover advantage. Eros Investments is a future-ready organization committed to developing the Web 3.0 ecosystem with a mission to make the world of entertainment better through innovation and diversity.
L3COS (pronounced 'Leckos') is a blockchain-based operating system bringing the benefits of Web3 to a wider economy. It provides full governmental and regulatory oversight across digital transactions, and is applicable for all businesses, large and small, as well as for individuals. The operating system facilitates secure, regulated and digitalized activity for all countries around the world.
*Disclamier: "The pages slugged ‘Press Release’ are equivalent to advertisements and are not written and produced by Industry Outreach Magazine journalists/Editorial." We do not hold any copyrights towards the content or image. Image source: Newswire