In line with a recent official press release, Minds has received Series A investment fromMediciVentures,thoughthe investmenttotal amount wasn’tdisclosed. With the investment, Overstock.com founder andchief executive officer PatrickM. Byrne has reportedly become a member of Mind’s board ofadministrators.
Founded back in year 2011, Minds is a redistributed social networking platform that rewards users for their activity on-line via in cryptocurrencies, revenue, and views of their content. Recently, Minds launched its native crypto token $MINDS on the Ethereum [ETH] Mainnet, that could be earned for engagement on the platform.
Moreover, Minds has adopted the Electronic Frontier Foundation [EFF] Manila Principlesafter theplatform’s Digital Bill of Rightsso asto “ensure freedom of speech” for its users.
Overstock has been actively demonstrating its interest in blockchain-poweredprojectsaround the globe. Earlier this month,the corporatethrough its subsidiaryMediciVenturesinvested within Israeli-based technology company VinX to develop a token-based digital wine futures platformsupportedthe Bordeaux futures model.
However prior to that, Overstock’s blockchain land subsidiaryMediciLand Governance [MLG] signed amemorandaof Understanding withZambia. The firmcanwork with the Zambian govt. on revamping landpossession,permittingrural landowners tolegitimisetheir estates and accessmonetary instruments.
Byrne also known as the early advocate for Bitcoin [BTC] and blockchain technology,sold-out10%of his shares — a $20 Mln in total— inSept. Inan open letterto investors,thatByrne signed “your humble servant,” heoutlinedmanyreasons for shareholdersto notagonizeregardinghiscall,adding that“don’t worry,i amstillwithin thegame, and we’replanning tobring this House to its knees.” Byrneconjointlynoted thathe’splanning toreinvest most of hissold-outshares “next to you investors.”