Startup Lino Attracted $20 Million For Decentralized Video Platform

Startup Lino Attracted $20 Million For Decentralized Video Platform

Startup Lino from Silicon Valley is preparing to launch a decentralized video content distribution system that can compete with YouTube and projects with a similar concept of Streamspace, Flixxo, Viuly, and Stream. At the same time, Lino received financial support from the Chinese investor Zhenfund, who bought tokens for $ 20 million.

The Lino website says:

We believe in decentralized, peer-to-peer content delivery networks (CDNs), but current projects do not seem to be ready for stability and cost.

The creators of the project are sure that their model compares favorably with the price and the level of stability from the content delivery networks (CDN). According to Wilson Wei, with LINO the authors of the video will be able to earn 3-5 times more than on YouTube or Twitch.

LINO tokens will become an internal currency in the system, they can be earned by creating and distributing video content, as well as developing infrastructure and applications on the project's blockchain. The cost of the tokens will reflect the involvement of the audience, and the transactions will be carried out without commission.

The reason companies like Youtube have enormous power over content creators is that they almost monopolize the means of distribution. Youtube, as a privately owned entity, has its fundamental interest in maximizing profit, which poses an underlying conflict of interest with content creators. The solution is to create collective decentralized distribution tools, which ensures that all value will be directly shared among content creators and related participants without going through a private company as an intermediary.

Recall that in November, channel owners on YouTube were able to send anonymous donations to the owners of their favorite channels in the Basic Attention Token (BAT) cryptocurrency.

Information Source: CNBC