Joystream Raises Additional $5.85 Million Dollars in Funding – Press release Bitcoin News

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Joystream Raises Additional $5.85 Million Dollars in Funding

PRESS RELEASE. 12th April 2022, Oslo, Norway – Joystream is thrilled to announce that it has raised $5.85 million. This brings the total fundraise to roughly $13m at a $60m valuation from over 30 investors, among them Digital Currency Group, Hypersphere, DefiAlliance, and D1 Ventures.

Building the decentralized future of video

Joystream aims to give video creators alternative ways to monetize their videos, and not solely rely on advertising, with the ability to sell their content as NFTs and to turn their channel into a token, so that anyone can invest in the creator, and earn a share of their revenue. Furthermore, Joystream is a blockchain that allows developers to build other applications on, opening up opportunities to create decentralized versions of video applications we are already used to, as well as completely new video applications.

Testnet participants to be handsomely rewarded

Joystream is currently on its 12th testnet chain. In order to attract high quality participants, testnet contributors are looking to get at least 25% of the genesis token supply ($15m+ worth). Because Joystream will be decentralized, governed entirely by token holders, it’s important to attract long-term high-value contributors for the project to continue to grow.

Aiming for a Polkadot parachain slot

This is the final stretch to a mainnet launch and the native $JOY token launch. Once the main network has launched Joystream will look to compete for a Polkadot parachain slot.

“This new funding will allow us to expand the team in key areas critical to a successful mainnet launch in Q2, such as kicking off our YouTube creator partnership program to attract creators to the platform, ramping up our DAO community growth initiatives and delivering key product features.”

says Bedeho Mender, founder of Joystream.

Joystream links

Video platform https://play.joystream.org/

Website https://www.joystream.org/

Joystream socials

Follow Joystream on Twitter for updates: https://twitter.com/JoystreamDAO

Join the Discord community: https://discord.com/invite/DE9UN3YpRP

Media contact details

robert@jsgenesis.com

Full list of investors

DCG (seed round)

Hypersphere

DefiAlliiance

D1 Ventures

Signum Capital

LD Capital

Genblock Ventures

BITMAIN (seed round)

OKX Blockdream Ventures

MEXC Pioneer

SkyVision Capital

BoostVC (seed round)

Waterdrip Capital

PNYX Ventures

GateIO Labs

GSR

M6

Vestigium Capital

Master Ventures

Kernel Ventures

Illusionist Group

Lotus Capital

Lancer Capital

Panda Capital

Sunbar Capital

SneakyVC

New Tribe Capital

Phoenix VC

8186

LVT Capital

Lionline Capital

Basics Capital

ZB Capital

CabinVC

StartupLab (seed round)

Polkadotters

FMFW.io

 

 


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