Multicoin Capital led a $10 million Series A round in Permissionless Labs. He is a key contributor to Pipe Network, Solana’s permissionless content delivery network (CDN).
Robot Ventures, Co-founder of Solana Ventures and Solana Anatoly Yakovenko also took part in this round.
“The new funds will be used to recruit marketing and engineering roles, expand the network’s points of presence (POPs), and launch a private beta and testnet at Solana’s annual developer conference, Breakpoint,” the statement said. The project is currently on private devnet, the statement said.
Permissionless Labs Building Solutions streaming media applications, It aims to create a decentralized digital content distribution system that can compete with existing centralized models.
““The Pipe Network is architected to handle enterprise traffic at the scale of Netflix,” Permissionless Labs founder and CEO David Rhodes said in a statement. “The CDN industry is primed for innovation, especially with edge video ad insertion technology.”
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RT Watson is a senior reporter at The Block, covering a wide range of topics including corporate America, blockchain gaming, and NFTs. Previously, he covered entertainment at The Wall Street Journal, writing about Disney, Netflix, Warner Bros., and the creator economy, with a focus on technological disruption across media. Prior to that, he covered corporate, economic, and political news in Brazil at Bloomberg. RT has interviewed a wide range of people, including CEOs, media moguls, major influencers, politicians, blue-collar workers, drug dealers, and convicted criminals. He holds a Master’s degree in Digital Sociology.