Blockcast raises $2.85m to scale decentralized content delivery on Solana

Solana-based content distribution network Blockcast has raised over $2.8 million in seed funding led by Lattice Fund to scale its decentralized infrastructure for high-bandwidth content streaming.

According to a press release shared with Crypto.news, Blockcast raised $2.85 million in a seed funding round with participation from leading investors such as Lattice Fund, Protocol Labs, Finality Capital Partners, AllianceDAO, Zee Prime Capital, RW3 Ventures, and angel investors. Solana’s founder is Anatoly Yakovenko.

Blockcast is a decentralized content distribution network built on Solana that aims to relieve increasing pressure on the Internet infrastructure. The platform combines traditional broadcast technology with blockchain to manage the growing demand for high-bandwidth content such as live broadcasts, software updates and media broadcasts.

Considering that internet traffic is growing at a rate of 24% annually and live streaming now accounts for 17% of all global traffic, Blockcast aims to provide a more efficient solution for content distribution.

Blockcast enables faster and more cost-effective content distribution using community-operated nodes. This approach reduces data consumption, minimizes rebuffering and latency, and alleviates congestion for internet service providers, the statement said.

The goal is to streamline the process of deploying scalable traffic servers closer to users, offering a more sustainable and decentralized way to manage global content demand.

Lattice Fund Partner Mike Zajko stated that the internet infrastructure is struggling to meet the increasing demand for high-quality content. He emphasized that Blockcast uses “community-operated nodes” as a practical solution to reshape “how data is distributed and consumed.”

Blockcast plans to use the capital to accelerate the development of its platform, expand its presence in the networked infrastructure ecosystem, and launch a pre-order campaign for home RELAY nodes, which are compact servers designed to improve streaming quality while allowing users to participate. deliver content and earn rewards.

Speaking to Crypto.news, Blockcast CEO Omar Ramadan said the fund will also help “develop global content distribution capacity” in line with Blockcast’s mission to revolutionize content and “a public test run for the world’s first decentralized multicast-enabled CDN.” He also announced that he would start the “network”. distribution.

The funding round comes as venture capital interest in the blockchain and fintech sectors has been declining steadily since April 2024. Despite waning interest, new participants continue to emerge, with global investment firm VanEck recently announcing the launch of VanEck Ventures, a $30 million fund focused on fintech, digital assets and artificial intelligence.