Sliver.television has raised $20 million in a public preliminary coin providing (ICO) for a cryptocurrency that’s geared toward bettering the bandwidth obtainable for esports streams. Sliver.television desires to make use of the untapped bandwidth of laptop customers when their machines are idle. It will then use that bandwidth to supply streams to native viewers.
Those viewers will get pleasure from improved video high quality, and the pc customers will earn a cryptocurrency dubbed Theta tokens. The extra bandwidth you ship, the extra you earn. you should use these tokens to ship presents to your favourite esports streamers, unlock premium content material, or purchase and present digital objects.
Cupertino, California-based Sliver.television stated beforehand it had raised $12 million in a personal presale of tokens again in December. But now it has prolonged the whole quantity raised by presale of tokens to certified buyers to $20 million.
“Our imaginative and prescient is to create the subsequent technology esports and video streaming ecosystem by democratizing at present’s centralized content material supply networks,” stated Sliver.television CEO Mitch Liu, in an announcement. “We’re thrilled to have the assist of so many blockchain and esports specialists, we really imagine blockchain expertise will disrupt esports and the broader video and media industries. Video content material accounts for practically 80% of all web information, it’s an enormous downside and a multi-billion greenback alternative that Theta is seeking to democratize.”
The token consumers included DHVC, I Blockchain Capital, Nirvana Capital, Aelf, Synapse Capital, and Silicon Valley enterprise capital companies DCM, Sierra Ventures and the Venture Reality Fund.
The token presale was led by Danhua Capital and suggested by Steve Chen, cofounder of YouTube and Justin Kan, cofounder of Twitch. The personal token presale had overwhelming curiosity and was thrice oversubscribed. It bought out in 48 hours.
The firm can be asserting that the Theta ERC20-compliant tokens launched in December 2017 on Sliver.television platform attracted over 4 million visits in January from esports viewers all over the world.
Theta tokens are earned by followers for day by day login on the platform, used as presents for his or her favourite influencers, and, quickly, to purchase digital items for his or her favourite video games. Since launch, over a million Theta tokens have been earned and gifted to 2 dozen high esports streamers by over 980,000 Sliver.television customers. In the future, tokens can be utilized by advertisers and model sponsors to fund advert campaigns and assist key content material creators.
Sliver.television’s Theta Labs subsidiary plans to launch its Theta content-streaming platform through a decentralized, user-power mesh community in late 2018. The objective is to supply higher-quality streaming, decrease prices for content material supply for publishers and broadcasters, and assist content material creators seize extra of their advert income.
“We’ve been impressed working with Mitch and all the Sliver.television workforce since we led the corporate’s [first round] spherical of financing. It’s clear they’re on an exponential progress trajectory and getting big traction within the esports streaming neighborhood, their underlying video supply expertise underneath growth makes all this attainable,” stated Dovey Wan, managing director of Danhua Capital, in an announcement. “We’ve been within the crypto area since 2013 and are among the many earliest supporters of Dfinity, Brave and Orchid Labs.”
He added, “Content supply networks by nature can leverage decentralization and blockchain expertise very nicely. Today’s blockchain expertise is just like the web in 1996, I believe Theta has the chance to turn out to be the dominant decentralized community that powers all video streaming for the subsequent 20 years.”
Besides Chen and Kan, Theta Labs advisors embody Fan Zhang, founding member of Sequoia Capital China; Rajeev Surati, a video compression and streaming knowledgeable; Cliff Morgan, CEO of Gfuel; Sam Wick, head of UTA Ventures, and Dennis Fong, CEO of Plays.television.
Before the ICO, Sliver.television raised$17 million in enterprise capital from Danhua Capital, DCM, Sierra Ventures, Venture Reality Fund, main Hollywood/media buyers together with Creative Artists Agency, BDMI, Greycroft GC Tracker, Advancit Capital and high Japanese cellular gaming companies together with Gree and Colopl.
This article sources data from VentureBeat