Stacked: the web3 alternative to twitch raises $13m

Pantera Capital led a $13 million Series A funding round for Stacked, a live streaming platform focused on creating original content

Stacked, a streaming platform run by its community, has raised $12.9M in funding from Pantera Capital.

Investors include Z Ventures and GFR Fund.

Founded by Alex Lin, Stacked began as a watch-only app before pivoting towards web3 streaming. After noticing a gap in the market, the company has since focused its efforts on building a decentralized video streaming platform. Stacked’s vision is to create an open source protocol for decentralized video streaming.

We saw the huge potential that individual contributors had to create valuable video series for our platform, so we decided to give them some compensation.

On the Stacked blockchain, creators can stream games, host watch parties, and interact with fans through the Stacked app. They earn Stacked Governanance Tokens (SGT) for each contribution they make. These SGTs give them voting rights on the Stacked network, which allows them to accrue equity in the company.

We’re excited to announce that Stack Studios, parent company of Valhalla has raised $15m over 2 rounds. Web3 is still nascent, and we see an opportunity to build one of the largest crypto companies in the world over the next decade… Having great investors allows us to create the best NFT possible before asking members to mint. There are no empty promises here, only a track record of proven results. We are redefining what quality execution means in Web3. – Alex Lin

Staked raised $30 million in its Series A funding round earlier this year. It will give the company five to seven years of cash flow.

The company has raised $9 million in funding from investors including First Round Capital, General Catalyst Partners, and Y Combinator. It plans to use the fresh cash to hire additional staff, launch its first product outside of North America, and expand into Latin America, Eastern Europe, and South Africa.