GigaStar, a new startup that brings YouTube creators and fans together, announced that it raised $4.8 million in a seed round.
GigaStar Raises $4.8M Seed Funding
DV Crypto VC, Tomsic Holdings, Nameless Ventures, and Belvedere Strategic Capital participated in the seed financing. The funds raised will be used to expand the company’s operations and marketing processes. The funds will also support the company’s flagship products, GigaStar Market, and portfolio.
The company will launch in March and will fully enter the sector in the second quarter of 2023. Jared Vegosen, Co-Founder of DV Group LLC, said:
“GigaStar is set to empower a new Web3 generation of YouTube creators to finance their ambitions, and do what they love – all while transforming their fans into an army of promoters. We’re excited to support GigaStar in its journey to disrupt the creator economy.”
Connecting Youtube Creators and Fans
The platform aims to provide various benefits to content creators and fans using blockchain. These benefits are as follows:
- Fan funding
- Innovative fan engagement
- Potential long-term royalties
Through the platform, fans will invest in YouTube channels. YouTube content creators will give a portion of the revenue they earn from the future growth of the channel to the fans in tokens represented as Channel Revenue Tokens (CRTs). The deal will be arranged by the YouTube channel owner, and if the fans agree to the terms, they will receive a share of the profits from the future growth of the channel. Rick Tomsic, manager of Tomsic Holdings, said:
“GigaStar has streamlined a traditionally complex process to support entrepreneurs in the creator economy. YouTube creators will be able to issue their own private revenue share offerings. This is what the democratization of the creator economy looks like and we believe in GigaStar’s value creation model.”
About GigaStar
The company was founded by entrepreneurs who previously worked in industries such as commerce technology, artificial intelligence, and YouTube creators. The platform brings together YouTube creators and their fans, making them partners of sorts. Fans can now invest in YouTube channels in the same way they invest in cryptocurrencies and receive a share of the revenue if the channel grows.
Leave a comment