Lino, a startup based in Silicon Valley, has raised $20 million in funding for its idea to build a video streaming platform for the blockchain.
The YouTube rival would be a decentralised, autonomous distribution platform, able to pay content creators fairly without the presence of a corporate middleman.
Users of Lino will be able to use LINO tokens to pay directly to content creators, building their market value in the eyes of the platform.
Wilson Wei, CEO of Lino, said: “We believe that blockchain has enormous potential to empower video creators by decentralising how their content is distributed and ensuring that their earnings go directly into their pockets.”
Funding so far has come from Chinese seed investor Zhenfund through a private token sale.