CNET Founder Rakes in $50 Million on ICO for Video Streaming Token

Video Streaming Token

Streaming doesn’t really make a profit for big tv networks these days.

This might all change if VideoCoin, a new decentralized project that’s taking aim at the price major broadcasters and media companies pay to stream content, succeeds.

When a broadcaster sends out a broadcast over the airwaves, one signal will reach several devices. However, once it broadcasts over the net, one signal goes to one device.

“It’s all cost and no revenue,”

said Halsey Minor, CEO of LivePlanet an Immersive video startup, said at Consensus 2018. Live Planet is a strategic partner in VideoCoin, which announced Wednesday the completion of a $50 million initial coin offering (ICO) entirely through private investment.

Investors included names such as Galaxy Investment Partners, Alphabit Fund, ethereum co-founder Anthony Di Iorio, Akamai Co-Founder Randall Kaplan and Science Blockchain. VideoCoin won’t be doing a public sale, however, instead will do an airdrop to its supporters over their Telegram channel within the following weeks.

Minor, best known for founding tech media website CNET, said that

“What we’re building is the next-generation infrastructure for how you do video processing and distribution services.”

VideoCoin’s plan is to create a platform that enables broadcasters to send their video streams out to unused computer infrastructures, like server farms that have an excess capacity for the process.

Minor has had a track record of betting on early tech that faced doubt at first. One of Salesforce’s early investors, Minor gambled companies would put their data into the cloud in order to better manage relationships with customers.

Since that time, cloud computing businesses have taken off, with Amazon Web Services becoming the dominant player in that field.

“I think most people would believe that Amazon Web Services is the last step in computing,”

Minor continued.

Minor thinks that by decentralizing computing tasks, that there is still more margin that can be shaved off the cost of computing services

“I believe the blockchain could unleash a highly competitive market on computing in the same way I believed Salesforce could change enterprise software.”

With the completion of their token sale, the company announced it would update its product roadmap and new partnerships support adoption of the open source VideoCoin platform. Halsey concluded that:

“The one use case the blockchain that’s going to work first is the commodification of hardware. It’s perfect for it.”

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