Blockchain journalism startup Civil will be launching another token sale after a failed initial coin offering (ICO) earlier this year.
Civil is a decentralized network of independent newsrooms, a community-run journalism project supported by the Civil Foundation and based on a token-curated registry model. Tokens provide members with a say and share in the project’s day-to-day operations and long-term evolution. The mission is to advance trust and sustainability for journalism worldwide. Earlier this year, the startup partnered with major journalism platforms, such as the Associated Press and Forbes.
In October, Civil launched its first CVL token sale targeting an $8 million soft cap. The token sale, however, only managed to raised $1,435,491 in CVL tokens from 1,012 investors. At the time, the company said it was working on a “much simpler” token sale.
In its latest announcment, Civil founder Matthew Iles said that the company will start selling CVL tokens again in February 2019, but with no hard cap, soft cap, or time limits.
“Unlike last time, there will be no hard cap, no soft cap, or time limits,” Iles said. “Instead, interested members of the public will just buy tokens right from our website, civil.co. Our tokens will stay on sale on a continuous basis until we sellout of the 34MM public allocation. (Yes, we even tried to make the experience a bit easier too!) All net proceeds will go to the Civil Foundation to fund public-service journalism efforts around the world.”
In addition to the token sale, the company will also release two tools, the Civil Registry and the Civil Publisher. The Civil Registry is the core of the company’s decentralized network of newsrooms, and how their community-run project will actually work. The app allows any newsroom to apply to be a Civil newsroom, and the community will govern itself according to Civil’s living set of journalistic standards, known as the Civil Constitution.
The Civil Publisher will allow Civil newsrooms to index verifiable data about their articles to the blockchain, or even permanently archive all their work
“Our team has been working on these products and supporting infrastructure for almost a year, and I couldn’t be more proud of the tireless effort, tremendous resilience and pioneering spirit my colleagues exhibit everyday,” Iles said. “Currently, Civil counts 18 newsrooms among its ranks with a total readership near 10MM people, and more than 50 additional newsrooms are preparing to join for our February launch. The Civil Foundation is charged with community-building, and their ambitious goal is 1,000 small to midsize newsrooms onboard worldwide by 2020.”
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