ICO Gets A $50 Million Support From CNET Founder For Video Streaming
It is quite useless nowadays in terms of money to stream a TV show or a sports game directly to your laptop. But there is hope for that, only if the VideoCoin vision comes to pass.
VideoCoin is a decentralized project with the aim of taking the price major broadcasters and media companies pay to stream content. The principle is simple: when a broadcaster sends out a broadcast over the airwaves, one signal can reach many devices, but when it broadcasts over the internet one signal goes to one device.
Halsey Minor, CEO of Live Planet which is an immersive video startup said in an interview with CoinDesk at Consensus 2018 that “It’s all cost and no revenue.” Live Planet, a key partner in VideoCoin, has announced last Wednesday the conclusion of a $50 million initial coin offering (ICO). This was done only via private investment.
Galaxy Investment Partners, Alphabit Fund, Ethereum co-founder Anthony Di Iorio, Akamai Co-Founder Randall Kaplan and Science Blockchain were the main investors. A spokesperson for the VideoCoin project said that they won’t be doing a public sale, rather, there will be details about an airdrop to supporters over its Telegram channel in the next two weeks.
“What we’re building is the next-generation infrastructure for how you do video processing and distributed services,” the founder for the tech media website CNET by name Minor, said. Creating a platform that allows broadcasters to send their video streams out to unused computer infrastructure, is the plan of action. Such infrastructures include server farms that have excess capacity for processing.
Minor’s first record betting had faced a lot of doubts. In his debut as a backer of Salesforce, he had bet that companies would put their data into the cloud in order to better manage relationships with customers. Ever since then, cloud businesses have become huge and Amazon Web Services became the number one in that space. Minor said, “I think most people would believe that Amazon Web Services is the last step in computing.”
Minor believes that decentralizing computer tasks will help take off some charges from the cost of computing services. He said, “I believe the blockchain could unleash a highly competitive market on computing in the same way I believed Salesforce could change enterprise software.” He later explained that “You don’t need specialized hardware to do video mining,” because all computers and even cell phones come with inbuilt video encoders.
