VideoCoin ICO Sweeps $50 Million via Private Investment

There used to be a time when streaming TV shows and sporting games directly to one’s laptop were a big deal. But those days are cascading fast into oblivion, as we live and breathe today. Along with it’s exclusivity, the raised revenue from such shindigs have also seen a downslide. This is primarily because now when a broadcaster furnishes a broadcast over airwaves, their signal reaches to several devices. However, when this signal is transmitted via the internet, the story changes as the signal now reaches just one device.

Working a strategy based on the same line of thought, VideoCoin is set to revolutionise the broadcast domain. As a new decentralized project, VideoCoin is targeting the cost paid by broadcasting biggies for streaming content.

In an interview at Consensus 2018, CEO of Live Planet Halsey Minor was heard saying that “It’s all cost and no revenue.” Live Planet is an immersive video startup that is also the strategic partner to VideoCoin. The company confirmed about the completion of a $50 million initial coin offering (ICO), solely via private investment, on Wednesday.

Having found its leading investors in esteemed names of the ecosystem, VideoCoin is boasting about having enterprises like Galaxy Investment Partners, Alphabit Fund, ethereum co-founder Anthony Di Iorio, Akamai Co-Founder Randall Kaplan and Science Blockchain in its kitty. Apparently, there is supposed to be no public sale for VideoCoin, however a spokesperson for the project admitted that the company may consider an airdrop to supporters over the Telegram channel in future.