Civil, the blockchain-based startup, is casting its eye to Asia after it set up a $1 million fund that’s aimed at seeding 100 new media projects across the continent over the next three years. The organization has collaborated with Splice, a Singapore-based media startup which will manage the fund.
Civil has previously promised to make media work more efficiently using blockchain technology and its upcoming crypto token, CVL. The platform has received $5 million in financing from ConsenSys, the blockchain corporation run by Ethereum co-creator Joe Lubin, and its ICO will start next month with the goal of raising around $32 million to launch its network.
Civil has already penetrated into the media industry — providing financial backing to theThe Colorado Sun — but the scale of the project in Asia is different in trying to kickstart a wave of new media companies by investing in them to get off the ground.