More funding for its mesh video network
Silicon Valley startup Sliver.tv has announced it’s raised $20 million through a private sale of its Theta tokens to investors including Danhua Capital, DHVC, Blockchain Capital, Nirvana Capital, DCM, Sierra Ventures and the Venture Reality Fund.
Sliver.tv has now raised over $37 million
The sale was three times oversubscribed and sold out in 48 hours.
Sliver.tv had previously raised $17 million through a conventional venture round.
Video for all
Sliver.tv and its subsidiary Theta Labs are aiming to use blockchain technology to create a decentralized video delivery network, initially focused on gaming and esports.
Planned for launch in late 2018, the user-powered mesh system will be funded by users who share their bandwidth and resources to relay and re-broadcast video streams. In turn, they will be rewarded by mining Theta tokens.
At present, however, Sliver.tv is building its audience by rewarded users with Theta tokens for daily logins. These can then be gifted to their favorite influencers.
During January, the platform handled over four million visits from 980,000 users, with one million Theta tokens earned.
“Our vision is to create the next generation esports and video streaming ecosystem by democratizing today’s centralized content delivery networks,” said Sliver.tv CEO Mitch Liu.
“Video content accounts for nearly 80 percent of all internet data. It’s a huge problem and a multi-billion dollar opportunity that Theta is looking to demoncratize.”