FreshCut, a short-form video platform for gamers, has raised $15 million in funding to further develop its platform and onboard more users.
The investment was led by Galaxy Interactive, Aminoca Brands, and Republic Crypto, with participation from Hashed, SkyVision Capital, Tamarack Global, C2X and Polygon.
The app, which integrate the Polygon blockchain, works like a hybrid of TikTok and the video game streaming platform Twitch. Creators can earn a token that’s native to the platform for uploading their content, and fans can earn the same token for engaging with the clips.
With the fresh funding, the team will focus on developing three specific areas, a representative from the company told The Block. It will be scaling up the firm's efforts in marketing and onboarding new creators to the platform. There will also be a focus on strengthening FreshCut’s membership program that gives fans both online and real-life perks. And finally, the team will work on product development and integration of the native token.
The founders, James Kuk, Ernie Le, and Ben Stueck, all previously worked for Twitch. “Demand for short-form content has grown exponentially, largely driven by a generational shift in attention and consumer habits," said Kuk, FreshCut's CEO. "At the same time, there’s a growing desire for creators and fans to be rewarded for their contributions to the community and platform more appropriately and genuinely,”
Other investors include co-founder of Twitch Kevin Lin, co-founder of game PUBG CH Kim, co-founder of Friends With Benefits Trevor McFedries, and content creator Jericho.
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