More

    Coinbase Ventures backs Ethereum-based streaming network

    This year has been foundational for the success of projects running on the Ethereum blockchain. Sharing the limelight is Livepeer, an Ethereum-based video streaming network that announced it had raised $20 million in a Series B funding round. Led by Digital Currency Group, the funding for Livepeer saw participation from large venture capitalists, including Coinbase Ventures, CoinFund, Northzone, 6th Man Ventures and Animal Ventures. Based on the announcement, Livepeer’s latest funding will be used to build an in-house protocol to experiment with livestream use cases, such as scene classification, object recognition, song-title detection and video fingerprinting. Previously, Northzone led the institutional funding round and raised $8 million for Livepeer. The company currently runs a network of 70,000 graphics processing units complementing the underlying Web 3.0 technology.Cointelegraph has recently reported on the impressive 15% price movement of Livepeer’s LPT token alongside Bitcoin’s (BTC) bullish wave. Related: Large VCs are sidelining smaller crypto investors, PwC crypto lead saysA recent report from Cointelegraph showed how increased valuations of crypto businesses are causing smaller investors to miss out on the latest innovations, according to PricewaterhouseCoopers crypto lead Henri Arslanian. Reflecting on the large-scale VC investment deals, Arslanian stated that the early-stage companies with a valuation of $5 million–$20 million used to see the involvement of smaller investors. On the other hand, he continued:“If your minimum ticket size is around $50 million, there aren’t that many companies that have that status yet.”Prominent crypto exchange FTX has also been at the receiving end of large VC funding, which has inflated its valuation by 1,400%. Ever since, FTX’s valuation stands at $18 billion after seeing investments from VC giants including Multicoin, VanEck, Paul Tudor Jones, Softbank, Sequoia Capital and Coinbase Ventures.

    Related articles

    Comments

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    Share article

    Latest articles

    Newsletter

    Subscribe to stay updated.

    bitcoin
    Bitcoin (BTC) $ 47,555.00
    ethereum
    Ethereum (ETH) $ 3,424.28
    cardano
    Cardano (ADA) $ 2.37
    tether
    Tether (USDT) $ 1.00
    binance-coin
    Binance Coin (BNB) $ 412.31
    xrp
    XRP (XRP) $ 1.08
    solana
    Solana (SOL) $ 144.36
    polkadot
    Polkadot (DOT) $ 33.96
    dogecoin
    Dogecoin (DOGE) $ 0.243742
    usd-coin
    USD Coin (USDC) $ 1.01
    avalanche-2
    Avalanche (AVAX) $ 65.23
    terra-luna
    Terra (LUNA) $ 35.16
    binance-usd
    Binance USD (BUSD) $ 1.00
    chainlink
    Chainlink (LINK) $ 28.39
    uniswap
    Uniswap (UNI) $ 24.71
    litecoin
    Litecoin (LTC) $ 182.26
    bitcoin-cash
    Bitcoin Cash (BCH) $ 627.60
    algorand
    Algorand (ALGO) $ 1.97
    wrapped-bitcoin
    Wrapped Bitcoin (WBTC) $ 47,517.00
    cosmos
    Cosmos (ATOM) $ 34.16
    matic-network
    Polygon (MATIC) $ 1.39
    internet-computer
    Internet Computer (ICP) $ 56.17
    filecoin
    Filecoin (FIL) $ 84.43
    stellar
    Stellar (XLM) $ 0.323209
    ftx-token
    FTX Token (FTT) $ 63.24
    tron
    TRON (TRX) $ 0.106091
    vechain
    VeChain (VET) $ 0.113509
    ethereum-classic
    Ethereum Classic (ETC) $ 57.25
    theta-token
    Theta Network (THETA) $ 6.38
    dai
    Dai (DAI) $ 1.01
    compound-ether
    cETH (CETH) $ 68.59
    tezos
    Tezos (XTZ) $ 6.20
    eos
    EOS (EOS) $ 5.39
    okb
    OKB (OKB) $ 18.72
    elrond-erd-2
    Elrond (EGLD) $ 245.14
    pancakeswap-token
    PancakeSwap (CAKE) $ 21.69
    aave
    Aave (AAVE) $ 365.38
    crypto-com-chain
    Crypto.com Coin (CRO) $ 0.190760
    monero
    Monero (XMR) $ 263.75
    quant-network
    Quant (QNT) $ 349.43
    iota
    IOTA (MIOTA) $ 1.66
    cdai
    cDAI (CDAI) $ 0.021642
    bitcoin-cash-abc-2
    Bitcoin Cash ABC (BCHA) $ 238.07
    compound-usd-coin
    cUSDC (CUSDC) $ 0.022204
    ecash
    eCash (XEC) $ 0.000234
    staked-ether
    Lido Staked Ether (STETH) $ 3,388.13
    shiba-inu
    Shiba Inu (SHIB) $ 0.000009
    hedera-hashgraph
    Hedera Hashgraph (HBAR) $ 0.438120
    the-graph
    The Graph (GRT) $ 0.828393
    near
    Near (NEAR) $ 8.44