Web3 video and live streaming platform Stacked has raised $12.9 million in a Series A funding round led by Pantera Capital.
The Stacked platform aims to provide a decentralized alternative to Alphabet’s YouTube and Amazon’s Twitch. Founded in March 2021, the Los Angeles-based startup wants creators to generate more of their revenue, through their own tokens earned through performance.
Stacked Raised $12.9 Million Led by Pantera Capital
Stacked raised $12.9 billion in its investment round, while crypto firm Pantera Capital spearheaded the fundraising.
Investors in the funding round included GFR Fund and Z Venture Capital. The capital raised by the company will be used in marketing, content acquisition, recruitment as well as expansion into Latin America, India and Southeast Asia regions.
Alex Lin, founder and CEO of Stacked, said in an interview with CoinDesk:
“If you truly give creators ownership over the platforms they help make valuable, then you really align the incentives of both the platform itself and the creators.”
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