YouTube and Twitch now have a decentralised rival, and it’s out there for funding
The Web3 platform Stacked that wants to replace Youtube and Twitch has just raised investment in Series A
Web3 platform for streaming videos Stacked has scooped $12.9 million in a Series A round of funding led by Pantera Capital. The funding will be used for employment, marketing, content acquisition, and international expansion into Southeast Asia, India and Latin America.
The Stacked platform promises to give a decentralised alternative to Alphabet’s YouTube platform and Amazon owned Twitch. The Los Angeles based business was founded in March 2021 and wants creators to keep a larger portion of their earnings while also acquiring platform ownership through the native governance token which is gained through various performance measures.
Stacked creators can stream game content, hold watch parties, talk with fans or present lifestyle content. By accepting spectator donations or subscriptions, creators can make money in fiat or cryptocurrency. Earned governance tokens can be exchanged for a highlighted position on the home page and a larger income share.
Z Venture Capital and GFR Fund were among the investors in the investment round. When the company unveiled a new $200 million fund to support established crypto firms in April, its lead investor Pantera Capital had $5.8 billion in assets under management.
