{"id":58442,"date":"2018-02-09T07:13:34","date_gmt":"2018-02-09T07:13:34","guid":{"rendered":"https:\/\/www.biphoo.com\/bipnews\/?p=58442"},"modified":"2018-02-09T07:13:34","modified_gmt":"2018-02-09T07:13:34","slug":"novogratzs-new-fund-others-invest-30-million-in-online-encyclopedia","status":"publish","type":"post","link":"https:\/\/www.biphoo.com\/bipnews\/technology\/novogratzs-new-fund-others-invest-30-million-in-online-encyclopedia.html","title":{"rendered":"Novogratz&#8217;s new fund, others invest $30 million in online encyclopedia"},"content":{"rendered":"<h2 style=\"text-align: justify\"><span style=\"font-size: 18pt\"><strong><span style=\"font-family: Arial, Helvetica, sans-serif;color: #000000\">Novogratz&#8217;s new fund, others invest $30 million in online encyclopedia<\/span><\/strong><\/span><\/h2>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 14pt;color: #000000\">A fund launched last month by former macro hedge fund manager Mike Novogratz and global blockchain company Block.One led a group of institutions that invested $30 million in online encyclopedia Everipedia, Everipedia President Sam Kazemian said.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 14pt;color: #000000\">Everipedia launched in 2015 with the goal of becoming an alternative to Wikipedia, the company said. The funding will help create an open source, peer-to-peer information network, Kazemian told Reuters.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 14pt;color: #000000\">\u201cThis investment will allow us to build the infrastructure for &#8230; a global, decentralized, neutral forum that can credibly discover the best of our knowledge,\u201d Larry Sanger, Everipedia chief information officer and co-founder of Wikipedia, said in a statement.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 14pt;color: #000000\">With the new funding, Kazemian also said the company had no plans for an initial coin offering &#8211; when startups create and sell virtual tokens to investors to raise funds.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 14pt;color: #000000\">\u201cIn my opinion, a lot of the ICOs are mainly done to get funding and after the company raises what it needs, it essentially becomes a cash grab,\u201d said Kazemian, adding the $30 million investment was an equity transaction.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 14pt;color: #000000\">In backing the deal, Novogratz said he was looking forward to the \u201cgrowth of a more modern and inclusive encyclopedia that puts the world\u2019s knowledge on the blockchain.\u201d<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 14pt;color: #000000\">Blockchain, the technology that underpins bitcoin and other digital currencies, is a digital ledger that provides a secure way of making and recording transactions.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 14pt;color: #000000\">Novogratz\u2019s $325-million new fund, EOS.IO Ecosystem, is a joint venture between his Galaxy Digital LP, a digital assets merchant bank, and Block.one, the developer of blockchain software EOS. In 2017, Block.one launched a year-long token sale for EOS which had raised at least $700 million as of the fourth quarter last year.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 14pt;color: #000000\">Everipedia said its open-source software will be developed on top of EOS.IO\u2019s blockchain platform.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 14pt;color: #000000\">Distributed Network Advisors, whose partner includes venture capitalist Brock Pierce, had also invested in Everipedia, Kazemian said.<\/span><\/p>\n<p><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 8pt\">Source:-\u00a0https:\/\/www.reuters.com\/article\/us-blockchain-investment-galaxy\/novogratzs-new-fund-others-invest-30-million-in-online-encyclopedia-idUSKBN1FS322<\/span><\/p>\n<div class=\"fb-background-color\">\n\t\t\t  <div \n\t\t\t  \tclass = \"fb-comments\" \n\t\t\t  \tdata-href = \"https:\/\/www.biphoo.com\/bipnews\/technology\/novogratzs-new-fund-others-invest-30-million-in-online-encyclopedia.html\"\n\t\t\t  \tdata-numposts = \"10\"\n\t\t\t  \tdata-lazy = \"true\"\n\t\t\t\tdata-colorscheme = \"light\"\n\t\t\t\tdata-order-by = \"social\"\n\t\t\t\tdata-mobile=true>\n\t\t\t  <\/div><\/div>\n\t\t  <style>\n\t\t    .fb-background-color {\n\t\t\t\tbackground: #ffffff !important;\n\t\t\t}\n\t\t\t.fb_iframe_widget_fluid_desktop iframe {\n\t\t\t    width: 630px !important;\n\t\t\t}\n\t\t  <\/style>\n\t\t  ","protected":false},"excerpt":{"rendered":"<p>Novogratz&#8217;s new fund, others invest $30 million in online encyclopedia A fund launched last month by former macro hedge fund manager Mike Novogratz and global blockchain company Block.One led a group of institutions that invested $30 million in online encyclopedia Everipedia, Everipedia President Sam Kazemian said. Everipedia launched in 2015 [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":58451,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[692,119131,12073,10438],"class_list":["post-58442","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-latest-technology-news","tag-novogratzs-new-fund-others-invest-30-million-in-online-encyclopedia","tag-technology-news-today","tag-usa-technology-news"],"_links":{"self":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts\/58442","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/comments?post=58442"}],"version-history":[{"count":0,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts\/58442\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/media\/58451"}],"wp:attachment":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/media?parent=58442"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/categories?post=58442"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/tags?post=58442"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}