The non-replaceable token space has become more crowded as Eternal receives funding from some of the bigger players.
A new NFT marketplace, focused on trading clips of Twitch streamers, has received additional funding from Mark Cuban and Coinbase. While most of the NFT world is single-mindedly focused on every meme and viral video, Eternal wants to turn the history of the internet into an interactive game featuring clips of the most popular gaming streamers on Twitch. The project is led by startup Zelos Gaming and its co-founders Jeffrey Tong and Deek Chiang.
Eternal takes a page out of NBA Top Shot’s book
The platform functions similarly to other popular NFT products, such as NBA Top Shot and Sorare. customers are able to purchase serialized cue packs from the Eternal network of Twitch streamers who have partnered with the program. One of Eternal’s main advantages over NBA Top Shot has to do with the agreements it makes with talent. while NBA Top Shot requires deals with leagues and player associations, Eternal can deal with players on an individual basis. twitch does not need to deal with any entities, allowing Eternal to connect directly with content creators. The platform has announced that it is currently focused on signing deals with the top 0.05% of Twitch streamers.
So far, the startup has garnered a lot of positive attention, especially from some of the biggest names in cryptocurrency investing. Some highlights of the list of backers include individuals like Mark Cuban and Gary Vaynerchuk, as well as companies like NFX, Coinbase Ventures, and Dapper Labs. Arlington Capital also participated in the startup’s latest round of funding, investing $4.5 million into the marketplace.
Streamers will be able to take their top clips, cast them as NFTs, and sell them on Eternal. The fact that Twitch already tracks and categorizes videos makes the process much easier for creators. The idea is to pair with prominent emerging creators in order to net some bigger fish by signing established talent. Eternity hopes that signing with these high-profile streamers will help increase the visibility of the product and bring in new creators.