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Blockchain Version of Twitch Called Stacked Has Raised $13 Million

Pantera Capital, a crypto-focused venture capital company, led the fundraise...
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Photo by ELLA DON

Pantera Capital, a crypto-focused venture capital company, led the fundraise. Pantera Capital led a Series A round of funding for Web3 video and live streaming platform Stacked.

It raised $12.9 Million. This capital will be used for marketing, content acquisition, hiring, and expansion into Latin America and India.

Stacked is a platform that aims to be a decentralized alternative for YouTube-owned Alphabet and Amazon-owned Twitch. The Los Angeles-based startup was founded in March 2021. It allows creators to keep more revenue and also earn a native governance token that is earned through performance metrics.

Alex Lin, founder of Stacked, stated that if creators are given ownership rights over platforms they help make valuable, it will align the incentives for both developers and content creators.

Stacked creators have the ability to stream video content, host watch parties and chat with fans. Creators can make fiat and crypto by receiving donations from viewers or signing up for subscriptions. The Governance tokens can be used to secure a prominent spot on the main page or to negotiate a higher share of revenue.

GFR Fund, Z Venture Capital were among the investors in this funding round. Pantera Capital, the lead investor, had $5.8B in assets under management when it announced that a new $200M fund was being launched to support mature crypto companies.

Felipe Rodriguez

Felipe Rodriguez

Felipe states he has super powers, some argue that case but he does come up with some very clear predictions. Felipe is based in the US and frequently travels to Brazil where he was born. He is a journalist of the future and has a portfolio of crypto projects he has worked with. Felipe always says "The future doesn't scare me as much as the past, crypto is here to stay but only time will tell where it will take us".
Felipe Rodriguez

Felipe Rodriguez

Felipe states he has super powers, some argue that case but he does come up with some very clear predictions. Felipe is based in the US and frequently travels to Brazil where he was born. He is a journalist of the future and has a portfolio of crypto projects he has worked with. Felipe always says "The future doesn't scare me as much as the past, crypto is here to stay but only time will tell where it will take us".

© 2022 The Daily Encrypt. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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