GENVID ADDS $6M IN FUNDING ROUND FOR STREAMING PLATFORM
Streaming solutions company Genvid Technologies has managed to conclude a funding round, adding $6 million in fresh capital.
More specifically, Genvid is seeking to overhaul the viewer’s experience and create a streaming platform that allows players to interact and adjust their camera angles and minor game features to make spectators feel more involved, while also allowing them to access information that is available exclusively to viewers. Genvid has already patented its interactive streaming engine.
Genvid CEO Jacob Navok spoke to GamesBeat, arguing that the experience the company is trying to usher in differs significantly from mainstream choices, such as YouTube.
Navok also added that the company intends to expand across Europe and Japan and possibly collaborate with regular sports, too. More ambitiously still, Genvid will seek to offer a similar experience across platforms, including virtual reality and mobile on top of arcade.
Makers Fund Manager Jay Chi helped Genvid conclude its latest capital boost. However, Chi had more to say about the streaming market as part of the broader industry for professional video gaming. According to him, ‘two-way interaction between viewers and streamers is where the industry is headed.’
Genvid rolled out a demo in collaboration with analyst firm StatsHelix during the GDC in San Francisco a week ago. The duo proposed a product that basically allows spectators to access information that is not readily available to the players themselves. A simple button can bring up a radar that pinpoints the position of every active contestant still battling it out in any given round.
Genvid’s offer is particularly tantalising to game creators who are behind their revenue from games. In this case, streams will be the driving force of earnings, Navok shared. According to him, the streaming of video games and eSports will be a product that spectators will perceive more and more as something that they can interact with and assimilate.
Similarly, Genvid is offering freely its software development kit, which enables streamers to personalise and improve on their streams while streaming.