LEVELS is the first multi-axis live event streaming platform. One physical camera at a venue serves a million simultaneous subscribers, each choosing their preferred seat, angle, and zoom. Subscribers earn cryptocurrency and fiat rewards from sponsors based on their attention to specific moments — without ever interacting with a wallet directly.

How does the LEVELS attention economy work?

Sponsors fund attention reward escrows that cascade into hundreds of thousands of subscriber wallets in real time during the live event. The smart contracts execute autonomously — venue, creator, subscriber, and treasury splits all settle on-chain. The user sees only their LEVELS Balance go up; the blockchain is invisible.

What is the AI Director?

The AI Director is an autonomous agent that scores camera angles in real time using crowd noise, play-action vectors from computer vision, and viewer dwell aggregates. It suggests angle switches in under 100 milliseconds. Human producers can override at any time; the system learns from every override.

What sports and events does LEVELS support?

LEVELS is event-agnostic: NBA, NFL, Olympics, UFC, concerts, award shows, theater, and age-gated content verticals. The Venue Franchise model means venues self-fund hardware installation, and LEVELS bears zero CapEx for new deployments.

Is LEVELS sovereignty-first?

Yes. Every technology layer in LEVELS uses named interface contracts that insulate business logic from vendor SDKs. AWS MediaLive, Stripe, Cloudflare, and even the LLM provider can be swapped in 30 days via documented exit strategies. The platform negotiates from strength, not dependency.

For Investors

Many cameras. One stage. A new attention market.

LEVELS is the operating system for multi-axis live event streaming — the legal wedge, the AI director, the on-chain reward graph, and the venue franchise that makes it self-funding.

Live + Sports

$247B

2024 global gross

Creator Economy

$254B

$2T by 2035

Venue franchises

Year-one target

Total raise

$36M

Seed + Series A

THE BET

Many-to-one + Clean Zones

Live rights are gated. Inside a Clean Zone — a venue we operate or a venue licensed to a LEVELS franchise — we control the cameras, the angles, and the reward graph. The legal wedge is the moat.

THE MARKET

$247B live + $254B creator economy

Live entertainment + sports gross receipts cleared $247B globally in 2024. The creator economy was $254B in 2024 and is on a path to $2T by 2035 (Goldman, McKinsey). LEVELS sits at the intersection.

THE ASK

Seed $8M → Series A $28M (12mo)

Seed funds the first Clean Zone, the AI director, the on-chain rails. Series A scales 14 venue franchises in year one, first sponsored event Q2 2027.

§01

Unit economics

Per-event revenue is built from four streams: ticketed VIP angles, sponsor takeover slots, attention-rewarded ad surfaces, and rights-cleared replay highlights. Stacked, target ARPPU at maturity is in the $24–48 band per event, with gross margin of 62–71% after rights, infra, and director-share.

CAC is anchored by the host venue — every subscriber acquired at a Clean Zone arrives pre-qualified. Blended payback target is under 90 days at scale. Churn target is under 4% monthly through year two; sub-2% post-network-effect.

The unit economics work because the venue itself is the funnel. We do not buy attention — we own the room.

§02

Capital efficiency: the Venue Franchise

A LEVELS-licensed venue self-funds its camera grid (Panasonic AW-UE160 / Canon CR-N700 / PTZOptics tier), its encoder roster (Haivision, LiveU, NVIDIA NVENC), and its on-prem ingest. LEVELS provides the white-label software, the AI director, and the on-chain reward rails. We split the recurring revenue.

Result: zero CapEx growth from LEVELS for every venue beyond the flagship. The franchise model converts what is a balance-sheet problem for Cosm ($250M raised, single venue) into a P&L problem we can scale through software.

§03

Competitive set

Cosm — $250M raised; one venue, immersive but single-rights. Capital intensity is the wrong shape for a network.

Playback — $22M from 776 + Khosla; community-led co-viewing for sports. Adjacent, but not a Clean Zone operator and no on-chain reward graph.

Whatnot — $11.5B last valuation; live commerce playbook. Proves the live + reward thesis at scale, but in a different vertical.

§04

Sovereignty position

Every layer of the stack is interface-abstracted with a documented 30-day exit path to a second IaaS — see the Sovereignty Evaluation Addendum. AWS MediaLive can be swapped for Cloudflare Stream; Vertex AI for Anthropic or open-weight; Privy for an in-house wallet. The platform is portable by construction, not by intention.

For investors this means lock-in to a single hyperscaler is not a concentration risk. The asset is the rights, the graph, and the franchise — not any vendor relationship.

§05

Risk register

Securities law: the on-chain reward graph is structured as utility-only, no expectation of profit. Howey-test counsel is engaged through Wilson Sonsini.

Venue access: the moat is also the risk. We mitigate by signing exclusive multi-year operating agreements at flagship venues and by stacking the franchise model so no single venue exit is existential.

Operational complexity: 12+ camera angles per event with sub-200ms switching demands edge infrastructure. We mitigate by leasing capacity from regional MediaLive and Cloudflare PoPs and by capping franchise rollout pace at 14/year until ops are battle-tested.

Sources & reading

LEVELS Tech Research Plan
Internal — full architecture, vendor matrix, infra roster
LEVELS Sovereignty Evaluation Addendum
Internal — multi-IaaS portability map, exit-cost matrix
Goldman Sachs — The Creators Economy Could Approach Half-a-Trillion Dollars by 2027
Goldman Sachs Research, 2023
McKinsey — The Creator Economy: Definition, Statistics, Influencer Economy
McKinsey & Company, 2024

Frequently asked

What stage are you in?

Seed open. We are taking a $8M round to fund the first Clean Zone build-out, the AI director, and the on-chain rails. Series A planned 12 months out at $28M.

When is the first revenue event?

Q2 2027 — first sponsored event at the flagship Clean Zone. Pilot streams begin Q4 2026.

How does the platform avoid lock-in to one cloud?

Every layer is interface-abstracted with a documented 30-day exit path to a second IaaS. Full map in the Sovereignty Evaluation Addendum.

Who are the founders?

David Chadwick (PLYR1) and Jack — operators with twenty years of combined live-event production and creator-economy infrastructure.

Get in touch

Open · investors