Livepeer (LPT), a strictly decentralized embedded video streaming network protocol based on Ethereum, the leading altcoin that allows startups to add movies to their products and rivals systems like Youtube and Twitch, is powered by the support of well-known investor Alan Howard and investment firm Tiger World. managed to increase. After the news, the altcoin price jumped from the red to the green zone.
Alan Howard’s investment news pushes altcoin price up
Series B funding round, in which Livepeer raised an investment of $ 28 million, actually started about 5 months ago. This round was once led by the well-known virtual fund control company Grayscale. Alternatively, $20 million in funding was raised at the end of the round, which took some time.
Alan Howard, co-founder of Brevan Howard Asset Management, stepped down as CEO in 2019 to concentrate and manage his personal investments. According to Forbes, Alan Howard has a net worth of approximately $2.8 billion. Livepeer states that the new investments will be used for the MistServer video software purchased in the fall, thus aiming to expand its customer base. MistServer is seen as a next-generation live streaming tool designed to be perfect for developers and with key features for internet streaming.
Livepeer’s rapid roadmap consists of intelligent video and peer-to-peer content material powered by artificial intelligence. In addition, it has targets that resemble content material tracking, melody detection and video fingerprinting, which are additionally developed with artificial intelligence. Long-term plans include shifting a significant portion of the protocol to Layer-2 solutions, making transactions much cheaper for node operators and token holders. And he plans to give it to video developers as a sourced style.
After the news, the altcoin price increased by more than 10% on a daily basis, reaching $52, according to CoinMarket Cap data. At the time of writing, LPT was trading at $47.66.