RelayX, the company behind the RelayX superwallet, has acquired Streamanity, a video streaming platform that enables content creators to earn money from every view.
Many blockchain and digital currency enthusiasts were thrilled when they learned of the acquisition, and many people are looking forward to what RelayX has in store for Streamanity.
Genuinely excited about @relayxio buying these guys. This is needed and makes a lot of sense. Relay building some top infrastructure.
— Nick Eastham (@Eastifer) June 15, 2020
Thank fuck. I might actually use the platform now https://t.co/jJBmqfTixl
— Your Friendly Neighbourhood Kenny (@kencrompton) June 15, 2020
Why Streamanity’s founders let go
Streamanity made great strides as one of the earliest Bitcoin SV-built platforms in the ecosystem, but the team knew that the project would be in better hands after they got it off the ground.
“We had good traction from the BSV ecosystem and they were very supportive from the start but [we] found it difficult to grow the business. That was our main challenge, no other specific reason [for letting the company go],” said co-founder Sumanth Neppalli. “After talking to Jack, we felt that he had the best vision for Streamanity.”
When Streamanity launched, it was well-received and users flocked to the platform, but as time went on, Neppalli and his co-founder Shravan Shandilya say that it was their inexperience in marketing that contributed to the slow user growth of the platform. They knew the platform still had the potential to scale but figured that it was better off in the hands of an individual who could most effectively accomplish the scaling—Jack Liu.
“After meeting Jack at Cambrian, we decided he had the best vision on taking Streamanity forward. We wish him the best of luck and hope Streamanity continues on to become a huge success,” said Neppalli and Shandilya.
What will Streamanity’s founders do next?
Streamanity played a major role in the BSV ecosystem’s earliest days, especially when it came to popular consumer-facing applications. But now that Neppalli and Shandilya are no longer directing their attention to Streamanity, what will they be focusing on?
“I am working on a Bitcoin project, but don’t want to comment about it right now,” said Neppalli, “I have some learnings from Streamanity that I want to combine with the data storage capabilities of BSV.”
New to blockchain? Check out CoinGeek’s Blockchain for Beginners section, the ultimate resource guide to learn more about blockchain technology.
