FreshCut, a gaming-focused short-form video platform, has raised $15 million in funding to expand its platform and attract additional users.
Galaxy Interactive, Aminoca Brands, and Republic Crypto led the investment, which also included Hashed, SkyVision Capital, Tamarack Global, C2X, and Polygon.
The software, which uses the Polygon blockchain, functions similarly to TikTok and Twitch, a video game streaming network. For uploading their content, creators can earn a native platform token, and viewers can earn the same token for engaging with the clips.
According to a firm official, the team will focus on developing three specific areas with the new money. It will increase its marketing and onboarding efforts for new creators on the platform. FreshCut’s membership programme, which offers fans both online and in-person rewards, will also be strengthened. Finally, the team will focus on product development and native token integration.
James Kuk, FreshCut’s CEO, stated the following:
“The demand for short-form material has exploded, owing to a generational shift in attention and consumption patterns. Simultaneously, there is a growing need for producers and fans to be appropriately and legitimately compensated for their contributions to the community and platform.”
James Kuk, Ernie Le, and Ben Stueck, the company’s founders, had previously worked for Twitch. Other investors include Twitch co-founder Kevin Lin, PUBG co-founder CH Kim, Friends With Benefits co-founder Trevor McFedries, and content producer Jericho.
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