Decentralized Video Streaming Platform Stacked Raises $12.9M from Pantera Capital
Decentralized video streaming platform Stacked, which is considered as the web3 competitor of Twitch, has raised $12.9 million in Series A funding.
According to the company, the funding round has been led by Pantera Capital and has also seen the participation of the GFR Fund and the venture arm of parent company Yahoo! Japan.
The company is focused in providing a decentralized alternative to Alphabet’s YouTube and Amazon’s Twitch.
The team intends to leave content creators with most of the revenue, as well as secure ownership of the platform through a governance token. An asset can be earned in the service.
Stacked CEO Alex Lin has said:
“If you really give creators ownership of the platforms they helped make valuable, then you really equalize the incentives for both the solution itself and the developers, as well as the content authors.”
