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CONSENSUS 2018, NEW YORK, May 16, 2018 (GLOBE NEWSWIRE) -- VideoCoin, a crypto token powering blockchain-enabled video infrastructure - the VideoCoin Network - announced the close of its private token presale after reaching its hard cap of USD $50 million.
The VideoCoin project received overwhelming support from the world’s leading crypto and blockchain funds. These funds and select individual contributors recognized the quality and credibility of VideoCoin and its immense market opportunity, experienced, qualified team, and innovative technology.
Due to the exceptionally strong private demand, VideoCoin did not conduct a public contribution round. Accordingly, in order to allow greater community participation worldwide in VideoCoin, the team also announced it will conduct an Airdrop of VideoCoin tokens in the coming weeks. The details and eligibility requirements for the Airdrop will be posted on Telegram at https://t.me/videocoin.
“I’m proud of VideoCoin's ability to reach this significant milestone, raising $50 million privately from the world’s savviest and prescient funds, syndicates, and individual investors who share in its vision to transform the video industry forever,” said Halsey Minor, CEO of Live Planet, a strategic technology partner and an investor in the VideoCoin Network. “Despite regulatory fears that sent ETH prices crashing, VideoCoin achieved a hard cap without a public round, and without major marketing hype. Thanks to VideoCoin's partners, this validates my belief that quality projects with a real business model led by an all star team with a track record for success can prevail.”
VideoCoin now plans to ramp up its global marketing program and rollout Meetup events worldwide, giving the community the chance to meet with team members and advisors. The company will also announce its updated product roadmap and key strategic partnerships to support widespread, mainstream adoption of the VideoCoin token on the VideoCoin Network.
The VideoCoin Network is a decentralized video encoding, storage, and content distribution system that turns all cloud-based video services into an efficient algorithmic market running on a new blockchain with a native protocol token, the VideoCoin (VID), developed by the VideoCoin Development Association Ltd. (Cayman Islands). Powered by a large-scale, distributed cloud video infrastructure, the VideoCoin Network will usher in “the new cloud” by marshaling underutilized computing resources from around the world to revolutionize video with blockchain technology. The VideoCoin Network ecosystem will lower costs by deploying unused compute resources, enable a new generation of applications via open APIs and open source-based development, disintermediate media behemoths with peer-to-peer video distribution, and increase privacy with decentralized, end-to-end encryption.
ABOUT LIVE PLANET
Live Planet, Inc. develops infrastructural technologies to enable next-generation video applications. Live Planet's solutions include the Live Planet VR System, the only end-to-end capture, distribution, and monetization system for immersive video. Live Planet was founded by serial entrepreneur Halsey Minor, who to date has founded or co-founded technology companies that have created over $100 billion in cumulative value, including: CNET, Uphold, Salesforce, Google Voice, OpenDNS, and Vignette.
For more information on Live Planet, Inc., visit www.LivePlanet.net or contact email@example.com.
MEDIA CONTACT: Transform Group, firstname.lastname@example.org
This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest. VideoCoin tokens and virtual currencies, in general, are not legal tender, in any country, and are not backed by any government as legal tender, nor should they be treated as such.
This announcement does not constitute a prospectus of any sort. It is not a solicitation for investment and does not in any way pertain to an offering of securities in either Singapore or the United States, and Singaporean and United States residents are expressly excluded from contributing in exchange for any VideoCoin tokens in the public contribution period, unless otherwise expressly noted. This release constitutes a description of the VideoCoin Network and the functionality of VideoCoin tokens. It is for informational purposes only and may change as the technology develops over time.