Stacked, a web3 video and livestreaming platform offering creators greater platform ownership, announced the completion of a $12.9 million Series A round of financing led by Pantera Capital, with participation from GFR Fund and Z Venture Capital.
The funding round was also backed by notable angel investors, including Alexandr Wang (Founder of Scale AI), Eddy Lu (CEO of GOAT), and Carl Pei (co-founder of OnePlus, CEO of Nothing).
Stacked, founded in March 2021, is a web3 video and livestreaming platform owned and operated by its community. Taking a creator-first approach, Stacked is building features and its business model around helping creators keep more of what they earn compared with traditional platforms, all while accruing ownership of the platform.
Creators are rewarded with the Stacked platform governance token based on various performance metrics, ensuring creators are compensated fairly for the value they bring to the platform. In the future, creators can further monetize their content using tokenized assets to more deeply engage with their fanbases.
With Stacked, streamers can stream traditional gaming content, host their own watch parties, chat with their fans, or host any kind of lifestyle content—all on a mobile device or desktop. It is working to make crypto and blockchain technology invisible to the average user and reduce onboarding friction, while also being readily accessible for creators to better monetize content and have greater ownership of the platforms that they build through their followings.
Stacked also recently launched Valhalla, a utility-enabled NFT collection for gaming and streetwear enthusiasts, that will play a key role in the broader Stacked ecosystem.
With this round of financing, Stacked said it will invest in marketing, content acquisition, and talent recruitment. With an initial userbase in North America, Stacked plans to expand its userbase into Latin America, India, and Southeast Asia, tapping into the respective regions’ mobile-driven demographics.
“Content is ultimately what makes a video platform valuable, yet its content creators don’t share in any of the upside,” said Alex Lin, Founder, Stacked. “By programmatically rewarding creators with our governance tokens for their content, we can align the incentives of the platform and its content creators.”