Blockchain media startup Civil shuts down


Civil, the ConsenSys-backed startup that aimed to decentralize the funding and "vetting" of journalism, is shutting down after four years.

The company built an innovative product, CEO Matthew Illes wrote in a blog post announcing the end of the company. "But ultimately, we failed to sustain ourselves independently."

The startup's goal was to create a "self-governing marketplace" for journalism using a blockchain.

In 2017 Civil raised $5M from ConsenSys. The firm had some initial traction, signing up name-brand media firms like The Associated Press and Forbes. But then it had a pair of failed initial coin offerings, and never seemed to regain its footing.

The Civil team will fold into ConsenSys to continue its development of decentralized identity software for Ethereum.

Trending Stories

Get Your Crypto
Daily Brief

Delivered daily, straight to your inbox.