Why we invested in LIV, the VR streaming and recording platform
Extended reality (XR) gaming is pushing the boundary between the virtual and real worlds in order to deliver immersive and interactive 3D experiences.
LIV, one of the leaders in XR game streaming, has developed a platform that gives users a seamless augmented reality (AR) and virtual reality (VR) experience. The company’s responsive recording and live streaming technology is optimized for the new medium. The current method mimics standard game streaming with a screen grab and a camera on the player, resulting in a less than pleasant stream. By contrast, LIV uses software and the position of the headset to pinpoint a player’s position in real time.
The easy-to-use LIV SDK gives developers streaming technology out-of-the-box. With XR streaming poised for explosive growth, LIV is in the right place at the right time. That’s why we joined an $8.5 million Series A funding round led by Bitkraft. Among the other investors are Sony Innovation Fund, Amazon Alexa Fund, Olive Tree Capital, and Credo Ventures.
LIV's next generation streaming platform puts the streamer in the center of the action, and allows viewers to immerse themselves in VR. Moreover, the founders of LIV are veterans of the streaming and XR space. They know their target audience, and we think they have the potential to scale rapidly. They have already built a community with more than 13,000 active creators that drives 100 million views a month
AJ “Dr Doom” Shewki is an engineer, serial entrepreneur, and competitive gamer. Steffan ‘Ruu” Donal is a middle school dropout who has been programming since he was a kid, and who released his first game for Nintendo DS when he was just 12-years-old.
The LIV team understands how to build a viewer- and gamer-friendly live streaming experience. Their cost-effective, low latency solution has been used in big TV productions, such as The Tonight Show with Jimmy Fallon and Conan O'Brien, as well as for Facebook's official Oculus Quest release trailers, and other VR game trailers.
According to an Inside Intelligence report, Facebook (Meta), Instagram, TikTok, YouTube, and Twitch all reported gains in viewership during the pandemic. What’s more, Twitch, Facebook Gaming, and YouTube Gaming, are driving the growth of live streaming.
We think the adoption of XR live streaming is still in its infancy. But LIV’s technology will enable the development of new XR games, and help to facilitate live streaming. Growing interest in the metaverse is also going to increase demand for living streaming solutions. Looking ahead, OEM licensing deals could also significantly increase LIV’s ability to monetize its technology.
While there is plenty of competition in the marketplace, we think LIV has the technology and the community to remain a market leader in XR gaming.
Royi Benyossef is Investment Director at Samsung Next. Samsung Next's investment strategy is limited to its own views and does not reflect the vision or strategy of any other Samsung business unit, including, but not limited to, Samsung Electronics.
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