Blockchain startup VideoCoin may not be launching their ICO until later in the year but they are already signing up some high profile investors.
According to CEO Halsey Minor, the former hedge fund manager and cryptocurrency evangelist Mike Novogratz has already signed up. Also investing in VideoCoin’s initial funding round are funds Alphabit and Distributed Network Advisors.
“Revolutionising Video Streaming”
VideoCoin is headed by Hasley Minor, co-founder of both CNET and Salesforce. With 80% of the internet’s IP traffic now used for video storage and distribution, VideoCoin wants to position itself as the go-to platform of distributed computing resources to handle the internet’s increasing video burden.
Data centres will be able to earn tokens by putting their spare capacity to work. According to Mike Novogratz, “We are convinced VideoCoin will revolutionize the video streaming industry.”
Novogratz is well known in cryptocurrency circles for predicting in November 2017 that the Bitcoin price could hit $40,000 within months, before warning in December that its price was set to fall to $8,000. At time of writing neither of these eventualities has occurred.
Minor appears to be expressing confidence that Novogratz’s involvement with the project will help guarantee the token sale’s success. “You get all these guys in early, and the rest comes along,” he said.