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Wednesday, October 27, 2021
Home News Overstock's Medici Ventures, Buys into Crypto Social Network, Minds

Overstock’s Medici Ventures, Buys into Crypto Social Network, Minds

Crypto social network Minds, has announced a whopping $6 million Series A investment from Medici Ventures, the wholly-owned blockchain subsidiary of Overstock.com.  Overstock.com founder and CEO Patrick M. Byrne will be joining the Minds board of directors.

“There has been increasing excitement in recent years over the power of blockchain technology to liberate individuals and organizations,” said Byrne. “Minds’ work employing blockchain technology as a social media application is the next great innovation toward mainstream use of this world-changing technology.”

“It makes perfect sense for Patrick Byrne to join Minds’ board of directors,” said Bill Ottman, Founder and CEO of Minds. “He understands the critical nature of using blockchain technology to help real people as it pertains to the increasingly urgent issues of user rights, privacy and Internet freedom. He shares our strategic vision, and we welcome his voice on the board.”

Minds recently launched the $MINDS crypto token on the Ethereum Mainnet, jumping to the #1 new DApp on the platform within hours of its release, as a way for users to boost their content, subscribe to media subscriptions and access exclusive content. Minds tokens can also be earned for engagement received on the platform.

Medici Ventures believes that by advancing blockchain technology the world may be brought closer together to connect and transact freely, eliminating the need for transactional middlemen and ushering in an era of trust through technology. Minds has adopted the Electronic Frontier Foundation (EFF) Manila Principles to serve as the platform’s Digital Bill of Rights, ensuring freedom of speech and expression for its million-plus members.

For more information on Minds, please visit www.minds.com.

Richard Kasteleinhttps://www.the-blockchain.com
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, 'The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, the Netherlands where he has set down his anchor to raise a family and write. Founder and publisher of industry publication Blockchain News (EST 2015) and director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He has written over 2500 articles on Blockchain technology and startups at Blockchain News and has also published in Harvard Business Review, Venturebeat, Wired, The Guardian and a number of other publications. Kastelein has an Honorary Ph.D. and is Chair Professor of Blockchain at China's first blockchain University in Nanchang at the Jiangxi Ahead Institute software and Technology. He has over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division. Kastelein has spoken (keynotes & panels) on Blockchain technology at over 50 events in 30+ cities.
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