Blockcast, a content delivery network built on Solana, has successfully secured over $2.8 million in seed funding, spearheaded by Lattice Fund, to enhance its decentralized infrastructure for high-speed content streaming.
As detailed in a press release shared with crypto.news, Blockcast raised $2.85 million in its initial funding round, receiving backing from notable investors such as Lattice Fund, Protocol Labs, Finality Capital Partners, AllianceDAO, Zee Prime Capital, RW3 Ventures, and angel investors, including Anatoly Yakovenko, the founder of Solana.
Blockcast represents a decentralized content delivery network constructed on the Solana platform, addressing the mounting pressure on internet infrastructure. By merging conventional broadcasting technology with blockchain, Blockcast is strategically positioned to meet the escalating demand for high-bandwidth content, which includes live streams, software updates, and media content.
With internet traffic rising by 24% each year and live streaming now constituting 17% of all global traffic, Blockcast aims to deliver a more efficient content delivery solution.
By leveraging community-operated nodes, Blockcast ensures quicker and more economical content distribution. This methodology helps decrease data usage, reduces rebuffering and latency issues, and lessens internet service provider congestion, according to the release.
The objective is to simplify the task of deploying scalable traffic servers closer to users, facilitating a more sustainable and decentralized method for handling global content demands.
Mike Zajko, a Partner at Lattice Fund, mentioned that the existing internet infrastructure is struggling to accommodate the increasing thirst for high-quality content. He emphasized Blockcast’s innovative “community-operated nodes” as an effective strategy to transform “the way in which data is distributed and consumed.”
Blockcast intends to utilize the newly raised capital to expedite the development of its platform, broaden its footprint in the networked infrastructure landscape, and initiate its pre-order campaign for home RELAY nodes—compact servers designed to enhance streaming quality while enabling users to engage in content delivery and earn rewards.
In an interview with crypto.news, Blockcast CEO Omar Ramadan conveyed that the funding will also support “expanding global content delivery capacity” and the launch of “the public testnet for the first decentralized multicast-enabled CDN,” which aligns with Blockcast’s vision to transform content distribution.
This funding round takes place against a backdrop of declining venture capital interest in the blockchain and fintech arenas since April 2024. However, new players continue to emerge, as demonstrated by the recent announcement of VanEck Ventures, a $30 million fund focused on fintech, digital assets, and artificial intelligence.
