An altcoin backed by Coinbase Ventures and Digital Foreign money Group is surging after a month of huge milestones.
Ethereum-based video streaming undertaking Livepeer (LPT) soared to a brand new all-time of excessive at the moment of $100.99, rallying greater than 152% inside a 24-hour interval.
Livepeer says it’s working to construct “scalable and cost-effective” options for on-line video content material creators.
“Livepeer is a scalable Platform as a Service for builders who need to add reside or on-demand video to their undertaking. It goals to extend the reliability of video streaming whereas decreasing prices related to it by as much as 50x.
To realize this Livepeer is constructing p2p [peer-to-peer] infrastructure that interacts by way of a market secured by the Ethereum blockchain.”
In October, the corporate acquired media server MistServer, commissioned its first NFT (non-fungible token), and co-hosted COLLIDE, “the first-ever live performance with reside NFT minting.”
The MistServer acquisition seeks to cement Livepeer’s main objectives of being scalable, inexpensive, and dependable.
“Livepeer’s mission is to construct the world’s open video infrastructure… Collectively, Livepeer and MistServer present a disruptive infrastructure that gives a high-quality, low-cost different to the normal proprietary distributors working on costly massive tech cloud platforms.”
Livepeer has garnered $31 million in funding from over a dozen buyers, including crypto trade titans Coinbase Ventures and Digital Foreign money Group.
Livepeer was based in 2017 to handle the price of bandwidth and transcoding for video on the web. It launched on the Ethereum community in Could of 2018.
The worth of LPT presently sits at $88.80, and the altcoin is now the 86th-largest crypto by market cap.
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