Lattice Fund led the $2.8 million seed round for Blockcast to extend its decentralized infrastructure for high-bandwidth content.
A press release states that Blockcast raised $2.85 million in its seed funding round, with participation from angel investors and well-known investors like Solana founder Anatoly Yakovenko, as well as Lattice Fund, Protocol Labs, Finality Capital Partners, AllianceDAO, Zee Prime Capital, and RW3 Ventures.
Developed on Solana, Blockcast is a decentralized content distribution network designed to alleviate the increasing burden on internet infrastructure.
The platform manages the growing demand for high-bandwidth material, including media releases, software upgrades, and live streaming, by fusing blockchain technology with traditional broadcasting methods.
With live streaming now making up 17% of all traffic worldwide and internet traffic growing at a rate of 24% per year, Blockcast seeks to provide a more effective method of delivering content.
Blockcast uses community-operated nodes to provide more rapid and economical multimedia distribution.
According to the release, this strategy lessens latency and rebuffering, minimizes data consumption, and relieves congestion for ISPs.
In order to provide a more decentralized and sustainable approach to managing global content demand, establishing scalable traffic servers closer to users is intended to be streamlined.
The internet infrastructure is finding it difficult to keep up with the growing demand for high-quality information, according to Lattice Fund Partner Mike Zajko.
He emphasized that Blockcast’s utilization of “community-operated nodes” offers a workable way to change “the way data is distributed and consumed.”
Blockcast intends to use the funds to start its pre-order campaign for home RELAY nodes, which are small servers made to enhance streaming quality while enabling users to take part in content delivery and receive rewards, as well as to accelerate the development of its platform.
According to Blockcast CEO Omar Ramadan, the funds will also be used to develop “a public testnet for the world’s first decentralized multicast-enabled CDN” and “build out global content delivery capacity,” both of which are in line with Blockcast’s objective to transform content distribution.
The fundraising round coincides with a decline in venture capital interest in the blockchain and fintech sectors in the last four months since April 2024.
The worldwide investment firm VanEck recently announced the formation of VanEck Ventures, a $30 million fund focused on fintech, digital assets, and AI. Despite the declining interest, new players are still entering the market.
