Thanks to an equity sale led by Galaxy Digital’s EOS.io Ecosystem Fund, Everipedia has finally secured $30 million in funding. This also becomes a landmark deal for Mike Novogratz’s crypto-asset merchant bank as it becomes their first ever major investment.
The funding round was reportedly made exclusive for strategic investors, and the proceeds are planned to be used for the launch of a peer-to-peer network. Chief Information Officer and Wikipedia co-founder Larry Sanger will lead the launch in part. Everipedia, which also happens to be the decentralized offshoot of Wikipedia, announced last year their decision to move to the EOS.io blockchain.
In a statement, Sanger said: “In the era of fake news and a general distrust in central entities like governments, corporations and the media the world stands to benefit enormously from a decentralized and uncensorable knowledge base.”
Everipedia envisions new infrastructure to be built on top of the EOS.io blockchain network.