Paul Veradittakit

Blockchain-based platform Stream celebrating $5M round

Stream was founded to change the game for internet content creators and investors like the game they’re playing.

The startup closed its $5 million “advisor round” presale, the company announced today. Panera Capital led the round, with additional support coming from Fenbushi Capital, Coinfund, FBG Capital, ZhenFund, BLOCKCHAIN PARTNERS Korea, INBlockchain, Jed McCaleb, Michael Arrington, David Johnston, Leon Fu, Roland Hicks, Andrew Yashchuk, and Ramtin from Abstract VC.

The Stream Token was created as a more equitable alternative for content creators who lose a significant share of their revenue to expenses and fees charged by streaming and social networking sites. It was designed by a team from Harvard, Princeton, Stanford and the inaugural Thiel Fellowship. Tokens are paid to content creators, who are free to switch platforms while maintaining followers and content.

Paul Veradittakit

Pantera Capital partner Paul Veradittakit explains why he is backing Stream.

“Pantera Capital thinks extremely highly of the Stream team and their strategies to disrupt existing monopolies in content monetization. With Stream Tokens, content creators are now incentivized to monetize on a decentralized peer-to-peer platform, saving massive fees.”

Greg Kufera, CTO of Stream, believes the Stream Token is at the heart of the new internet economy.

“Stream Token is part of the larger Silicon Valley movement to fulfil the original intention of the internet: universal access to information” Stream CTO Greg Kufera said. “We can finally reward those who share information without curtailing freedom of expression. Content creation doesn’t have to be a zero-sum game, and we’re ensuring it won’t be.”

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