VideoCoin passes $35M in funding for decentralized video encoding platform
VideoCoin, recently passed the $35 million mark in private presale funding for its blockchain-based video encoding, storage and content distribution system. The company aims to be the "Airbnb and Uber" in this segment, according to a press release.
Funding partners include Anthony Diiorio, co-founder of Ethereum and founder and CEO of Jaxx and Decentral; Science Blockchain; and Tokenstack Fund, among others. Given this support, VideoCoin will not pursue a public funding round, the company said.
"We are thankful to be in this position as we have been selective in our targeted funds," said Halsey Minor, CEO of Live Planet, and an investor and partner in the VideoCoin Network. "My team has been heavily vetted and in turn, we’ve earned the trust and contributions of these global business leaders. It validates our long-term vision and lays the necessary foundation for our global platform to be the Airbnb or Uber of video. With these key global partners in place, we can now focus on our passionate community of users and followers."