Coinbase Ventures backs Ethereum-based streaming network

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Livepeer's $20 cardinal Series B backing circular saw information from ample VCs, including Coinbase Ventures, Coinfund, Northzone, 6th Man Ventures and Animal Ventures.

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Coinbase Ventures backs Ethereum-based streaming network

This twelvemonth has been foundational for the occurrence of projects moving connected the Ethereum blockchain. Sharing the limelight is Livepeer, an Ethereum-based video streaming web that announced raising $20 cardinal successful a Series B funding. 

Led by Digital Currency Group, the backing for Livepeer saw information from ample task capitalists, including Coinbase Ventures, Coinfund, Northzone, 6th Man Ventures and Animal Ventures. Based connected the announcement, Livepeer’s latest backing volition beryllium utilized to physique an in-house protocol to experimentation with livestream usage cases specified arsenic country classification, entity recognition, song-title detection and video fingerprinting.

Previously, Northzone led the organization backing circular and raised $8 cardinal for Livepeer. The institution presently runs a network of 70,000 graphics processing units complimenting the underlying Web3 technology.

Cointelegraph’s caller study besides highlighted the impressive 15% terms question of Livepeer’s LPT token alongside Bitcoin’s (BTC) bullish wave.

Related: Large VCs are sidelining smaller crypto investors, PwC crypto pb says

A caller study from Cointelegraph showcased however accrued valuations of crypto businesses are causing smaller investors to miss retired connected the latest innovations, according to PricewaterhouseCoopers’ crypto pb Henri Arslanian. 

Reflecting connected the large-scale VC concern deals, Arslanian stated that the early-stage companies with a valuation of $5 to $20 cardinal utilized to spot the engagement of smaller investors. On the different hand, helium continued:

“If your minimum summons size is astir $50 million, determination aren’t that galore companies that person that presumption yet.”

Prominent crypto speech FTX has besides been astatine the receiving extremity of ample VC funding, which has inflated its valuation by 1400%. Ever since, FTX's valuation stands astatine $18 cardinal aft seeing investments from VC giants including Multicoin, VanEck, Paul Tudor, Softbank, Sequoia Capital and Coinbase Ventures.

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