Coinbase Ventures backs Ethereum-based streaming network
Livepeer’s $20-million Series B funding round saw participation from large VCs, including Coinbase Ventures, CoinFund, Northzone, 6th Man Ventures and Animal Ventures.
Led by Digital Currency Group, the funding for Livepeer saw participation from large venture capitalists, including Coinbase Ventures, CoinFund, Northzone, 6th Man Ventures and Animal Ventures.
Previously, Northzone led the institutional funding round and raised $8 million for Livepeer. The company currently runs a network of 70,000 graphics processing units complementing the underlying Web 3.0 technology.
Cointelegraph has recently reported on the impressive 15% price movement of Livepeer’s LPT token alongside Bitcoin’s (BTC) bullish wave.
A recent report from Cointelegraph showed how increased valuations of crypto businesses are causing smaller investors to miss out on the latest innovations, according to PricewaterhouseCoopers crypto lead Henri Arslanian.