This year is the foundation for the success of projects running on the Ethereum blockchain. Sharing the limelight is Livepeer, a video streaming network based on Ethereum, Announce Raised US$20 million in Series B financing.
Under the leadership of Digital Currency Group, Livepeer’s funds have received participation from large venture capitalists, including Coinbase Ventures, Coinfund, Northzone, 6th Man Ventures and Animal Ventures. According to the announcement, Livepeer’s latest funds will be used to build internal protocols to test live broadcast use cases such as scene classification, object recognition, song title detection, and video fingerprinting.
Prior to this, Northzone led the round of institutional financing and raised $8 million for Livepeer. The company currently runs a network of 70,000 graphics processing units to support the underlying Web3 technology.
Cointelegraph’s recent report also highlighted Livepeer’s LPT token price movement is impressive 15% With Bitcoin (Bitcoin) Bullish wave.
According to Henri Arslanian, head of encryption at PwC, a recent report by Cointelegraph shows how the increase in the valuation of the encryption business can cause smaller investors to miss the latest innovations.
Looking back at large-scale venture capital transactions, Arslanian said that early-stage companies with a valuation of between $50 and $20 million used to see the participation of smaller investors. On the other hand, he continued:
“If your minimum fare is about $50 million, there are not many companies with that status.”
Famous cryptocurrency exchange FTX has also been at the receiving end of large VC funds, Exaggerating its valuation by 1400%. Since then, FTX has been valued at $18 billion after seeing investments from venture capital giants including Multicoin, VanEck, Paul Tudor, SoftBank, Sequoia Capital and Coinbase Ventures.