LOS ANGELES--(BUSINESS WIRE)--Please replace the release with the following corrected version due to multiple revisions.
The updated release reads:
LIVE PLANET RECEIVES STRATEGIC INVESTMENT FROM LIBERTY CITY VENTURES
Live Planet joins LCV’s select ecosystem of blockchain-focused portfolio companies; Jeremy Drane joins as an external advisor
Live Planet, a leading provider of decentralized video infrastructure and full-service NFT technology solutions announced a strategic partnership with Liberty City Ventures (LCV), a blockchain technology and infrastructure-focused venture capital firm, to develop applications using its groundbreaking VideoCoin Network.
The partnership, which initiates collaboration between Live Planet and LCV-affiliated companies, will see Live Planet receive a strategic investment from LCV to support the rollout of video-based applications and the industry-leading NFT-enablement platform VideoCoin Network.
Founded in 2013, LCV is a venture capital firm focused on companies innovating within the blockchain technology sector. LCV counts leading media and NFT companies such as Animoca Brands, Flip, and Nifty’s among its portfolio of investments.
“We are excited to support the development of applications on the VideoCoin Network and welcome Live Planet into the LCV family. Their decentralized platform for video NFTs will provide brands and creators with novel distribution capabilities and significant infrastructure savings,” said LCV Founding Partner, Emil Woods.
The VideoCoin Network provides a full-stack, white-label software solution that enables any brand, retailer, or content creator the capability to easily and quickly mint and sell video NFTs as a consumer product, all within their existing website or platform. The solution includes the unique capability for media creators and owners to utilize NFTs as digital containers to package and sell short and long-form video content. Media NFTs that house video content, coupled with novel DRM and decentralized storage capabilities, will usher in a change in media buying behavior similar to when consumers moved from purchasing cassettes to DVDs to centralized streaming services.
“Partnering with Liberty City Ventures and its impressive portfolio is a critical next step for Live Planet as we continue to expand the concept of NFTs by enabling all-media, multi-asset, updateable and permissioned NFTs, opening new use cases and turning NFTs into media experiences,” said Halsey Minor, founder and CEO of Live Planet, the operator of the VideoCoin Network. “LCV’s funding enables the VideoCoin Network to accelerate engineering, business development and marketing focused on the crypto community, while continuing to promote NFTs on the VideoCoin Network as a next-gen consumer product, driving mainstream adoption.”
In tandem with the LCV news, Live Planet today also announced the addition of cryptocurrency and blockchain veteran Jeremy Drane as an external advisor. Drane has co-founded or held executive roles at PwC’s U.S. Blockchain Practice, Lukka, and NFT platform Nifty’s. He is also a Founding Partner in the Likewise Ventures Fund and BlockchainOZ.fund.
“I joined as an advisor because the VideoCoin Network provides unique technology infrastructure that enables both short and long-form video to be easily packaged and sold as NFTs,” said Drane. “This is a capability that I believe will revolutionize the way video-on-demand content is purchased and consumed.”
About The VideoCoin Network
In development since 2018, the VideoCoin Network is a full-service NFT technology platform led by a world-class team of blockchain and media experts, including digital media pioneer and founder of CNET, Halsey Minor. Through a proprietary turnkey solution, VideoCoin enables any brand, retailer, content creator, or platform to quickly and efficiently mint and sell NFTs as a new consumer product. The VideoCoin software solution enables unique NFT innovations including proof of ownership and digital rights management capabilities, updateable and dynamic NFT features for a variety of media NFTs, and fiat payment capabilities. VideoCoin believes in the power of NFTs to enable inventive media experiences, create significant new value from digital assets, catalyze novel engagement between creators and fans, and establish channels for persistent communication between brands and customers. The VideoCoin Network is operated by Live Planet, Inc. under agreement with the VideoCoin Development Association Ltd., the issuer of the Network-powering VID token.