Lino, a decentralized autonomous video startup, has raised $20 million in funding through a private token sale led by ZhenFund.
The company said that it will use the new funding will to build its video distribution network with blockchain technology. Other investors in the round include FBG Capital, DFund, and INBlockchain.
“The funding will be used to develop Lino Blockchain and Lino's video streaming DApp, both of which will be launching later this year, as well as expand marketing and operations,” Lino said in its media release.
Blockchain technology addresses the existing challenges faced by traditional video platforms including intermediaries. Lino uses the technology to ensure that content value is recognized efficiently and that all contributors can be incentivized directly to promote long-term economic growth.
"We believe that blockchain has enormous potential to empower video creators by decentralizing how their content is distributed and ensuring that their earnings go directly into their pockets," said Wilson Wei, CEO of Lino. "We want to eliminate the middlemen in video streaming."
Lino decentralizes video content by providing five key infrastructure components, which includes free transactions, incentivized currency system, proof of content value, proof of human engagement – prevents bots from manipulating the reward distribution, and auctioning Content Delivery Network (CDN) and storage.
