THE FEATURE Pantera Leads $5 Million Investment in Video Steaming Token Pre-Sale Is it a seed investment or a pre-sale? Call it a case of blurred lines. Certainly the language Silicon Valley is using to describe its own doings has been in for a twist since the ICO boom. But now, we have some evidence of just how big the impact could be, and it might be underwhelming. Announced today was a rather conservative $5 million investment for an in-development video streaming platform called Stream. So far, nothing irregular. But it's the language here that is most telling – with Pantera "leading" a $5 million fundraising for the project. The next term you'll want to note is what the VC firm is leading – a so-called "pre-sale." That's right, no equity extension here. Rather, the group of VCs bought into a sale of tokens not yet available to market, likely with few strings attached as to their commitment. You'll notice similar language in an announcement by a startup called Orchid, which also attracted an all-star team to its token sale today. But what's the impact? Same story, different song? So far, it certainly sounds like a familiar tune. | |
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