Grand Cayman, CAYMAN ISLANDS, Feb. 8, 2018 /CNW/ -- Everipedia, the world's first and largest blockchain encyclopedia project, today announced $30M of funding from a group of strategic investors led by Galaxy Digital's EOS.IO Ecosystem Fund. The strategic investment bolsters Everipedia's mission to decentralize the world's knowledge through an open source, peer-to-peer knowledge network.
The funding comes on the heels of Everipedia's disruption of the traditional internet encyclopedia model with the introduction of a new, decentralized and transparent protocol for accessing and sharing knowledge. The funding will be used to launch Everipedia's peer-to-peer knowledge network and to grow the community on a global scale.
"We're delighted to support Everipedia and look forward to the growth of a more modern and inclusive encyclopedia that puts the world's knowledge on the blockchain," said Mike Novogratz, CEO of Galaxy Digital.
"The disruption of traditional centralized web services is an inevitable trend that will disrupt large parts of the internet in the next few years. This new funding helps to keep Everipedia at the forefront of this paradigm shift," added Sam Kazemian, President and Co-Founder of Everipedia.
"This investment will allow us to build the infrastructure for something that desperately needs to exist, something that should have been built a long time ago: a global, decentralized, neutral forum that can credibly discover the best of our knowledge," said Larry Sanger, Chief Information Officer at Everipedia and Co-Founder of Wikipedia.
Everipedia also announced that its open source software will be developed on top of the EOS.io platform, making use of the unique blockchain functionality not available on other distributed ledger technologies on the market. Everipedia's protocol will have an added incentive structure and distributed backend hosted within the blockchain. Users will be rewarded for curating articles which correlate to the network's value, economically aligning the incentives of the value creators and value extractors.
"Everipedia is a dynamic and innovative company with the technology and vision to change the way people access and contribute to the knowledge ecosystem. Technologically and ideologically, the company is a great fit for EOS.IO, so we're excited to further this strategic alignment," said Sam Englebardt, Head of Strategic Partnerships at Galaxy Digital and manager of the Galaxy EOS.IO Ecosystem Fund.
"We are excited and honored to welcome Galaxy Digital and DNA to the Everipedia family. We look forward to working closely together to rapidly scale our community and to realize our vision of building the world's first decentralized encyclopedia," added Everipedia CEO and Co-Founder, Theodor Forselius.
About Everipedia International
Originally started in 2015 as a more modern and inclusive alternative to Wikipedia by Theodor Forselius, Sam Kazemian, Travis Moore and Mahbod Moghadam, Everipedia is now building the world's first peer-to-peer encyclopedia on the blockchain, incentivizing content creators by making them stakeholders in the knowledge base themselves. With over 3 million unique monthly users and over 6 million wiki articles, everipedia.org has already surpassed English Wikipedia as the world's largest English Encyclopedia by content.
About Galaxy Digital and EOS.IO Ecosystem Fund
Galaxy Digital LP ("Galaxy Digital") is a full service, digital assets merchant bank. Last month, Galaxy Digital announced the formation and capitalization of a joint venture with Block.one that is focused on developing the EOS.IO ecosystem and making strategic investments in projects that utilize EOS.IO blockchain software. Block.one and Galaxy Digital will deploy capital for future investments through the capitalization of a new $325 million EOS.IO Ecosystem Fund.
About Distributed Network Advisors
Distributed Network Advisors, LLC ("DNA") is a blockchain and cryptocurrency advisory company that focuses on helping entrepreneurs structure ICOs, and develop decentralized ecosystems. The team from DNA has successfully developed and invested in over 100 equity and token offerings amounting to more than $1B raised for its clients.
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