LOS ANGELES, Jan. 26, 2018 (GLOBE NEWSWIRE) -- VideoCointoday announced the close of $5 million in initial funding led by Alphabit Fund, Galaxy Investment Partners, Distributed Network Advisors (DNA), and Sovereign. Founded by prolific tech entrepreneur Halsey Minor, the VideoCoin Network is a decentralized video encoding, storage, and content distribution system that turns all cloud-based video services into an efficient algorithmic market running on a new blockchain with a native protocol token, the VideoCoin (VID). With over two billion people per month consuming Internet video, the VideoCoin Network captures unused computing capacity in existing third-party data centers while providing tokenized rewards for users that participate in decentralizing video content processing through the network.