Civil, the blockchain-based journalism organization, is about to spread itself further with a new USD 1 million fund targeting Asia.
The company built on top of blockchain has been gaining a name for itself in the world of journalism over the past year. The concept of Civil is a unique development in media, utilizing blockchain to allow both readers and journalists to combine to fund topics of interest to them or the public. Supported by CVL tokens, yet to be released, all participants will gain a speculative stake which increases in value as the company expands.
Over the past year, the company raised USD 5 million in financing from ConsenSys and then hooked up with the Colorado Sun, providing financial backing for the then newly-formed newspaper which broke away from the Denver Post after editorial disputes.
Its latest move sees Civil casting its eye on the Asian news market and, as a result, the company has raised USD 1 million to create 100 media projects there over the next three years. In order to facilitate its ambitious plans in Asia, the company has teamed with Splice, a Singapore-based media startup, which will manage the new fund.
The new project will be quite different to the company’s Colorado Sun experience as that newspaper was already newly established, whereas in Asia, Civil and Spice will be attempting to build up projects from scratch and get them off the ground.
Alan Soon, co-founder of Splice, says that there are no limitations regarding the type of media they would take on board and suggested that reporting websites. podcasts and behind the scenes tech were all up for grabs in the new Asian marketplace.
He did also point out that new beneficiaries of the fund would be under no obligation to adopt Civil’s protocol or blockchain technology although Splice itself has committed itself to do so. The advantage being that Splice will have access to the entire Civil networks’ content and licensing. Soon said:
“I’m with Civil because I really believe in their values… They want to do the right thing for this space.”
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