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Twitch streamer clips, an NFT marketplace backed by Mark Cuban and Coinbase

TechCrunch | Lucas Matney | Sep 28, 2021

NFT game eternal 1 - Twitch streamer clips, an NFT marketplace backed by Mark Cuban and CoinbaseThe NFT world collectively seems to be trying to turn internet memories into one big game — with a lot of cash involved, of course. The original “Doge” image sold for $4 million back in June, the original “Pepe” comic image sold for $1 million in April; in short, people are becoming meme millionaires. Buying and selling six-figure JPEGs is a weird phenomenon, but in the end doesn’t do a ton to convince the average internet user that NFTs are worth caring about.

Eternal wants to turn trading internet history into a game, but it’s focused on a very particular slice of the web — popular clips from game streamers. In a user interface that functions and feels very similar to NBA Top Shot, users can buy packs of serialized clips from Eternal’s network of game streamers they’ve partnered with. The marketplace is built by startup Zelos Gaming, helmed by co-founders Jeffrey Tong and Derek Chiang, which has pivoted from building out a sort of cross-platform battle pass (which we covered here last year) toward now embracing the wild world of NFTs with Eternal.

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The startup is building up a pretty wide roster of crypto investment firms and personalities, as its backers include NFX, Mark Cuban, Coinbase Ventures, Gary Vaynerchuk, Dapper Labs and Arrington Capital, which have invested $4.5 million in the startup in its latest funding round. The team was previously backed by Y Combinator.

It’s very much a Top Shot for X type platform at the moment — which is apparent in the site’s design — but the team has big ideas for how the platform evolves down the road. Unlike Top Shot, which was able to nab deals with the NBA and Players Association, there’s no overarching esports or Twitch equivalent, leaving Eternal destined for a fairly complicated weave of partnerships with streamers and streamer networks designed to ensure they don’t take their business elsewhere. The startup says they’re largely focused on popular streamers operating in the top 0.05% of Twitch.

Streamers can sell top clips, which are conveniently already tracked by platforms like Twitch, as well as videos from their social media, “immortalizing” the moments on the blockchain.

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The company hopes that by pairing up-and-coming streamers with more established personalities they can bring awareness to more creators and help build a network of users that “own a piece” of them and have a vested interest in their success.

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