Patrick Bern invested $ 6 million in a social network on the Minds block

The social network on the blockchain, Minds, announced it has received $ 6 million in funding for the Serie A. Round was led by a famous Bitcoin fan and Overstock CEO Patrick Bern and his venture capital firm, Medici Ventures.

According to Minds, Patrick Bern also joined the board of directors of the platform.

“We believe that by promoting blockchain technology, we can make people all over the world closer to each other. By eliminating the need to trust the institutions that stand between us, the blockchain gives mankind a chance to reconnect and replace fear, suspicion and fraud with trust and the ability to communicate freely with people, ”said representatives of Medici Ventures.

The company intends to send the funds received to expand the team with new specialists in the field of programming and marketing, as well as to further support the open source community.

Minds positions itself as a decentralized social network for people seeking freedom in the Internet. For creating content, users have the opportunity to earn internal Minds tokens, which can then be used to promote their own materials or reward authors of other channels.

In June 2017, the platform in just 19 days of the fundraising campaign at Wefunder raised more than $ 1 million.

Recall that in September, Patrick Bern sold 10% of his Overstock stake and, having obtained about $ 20 million for them, announced plans to invest these funds in various blockchain projects. One of them was the Israeli startup VinX , which specializes in supply chain management for wines, as well as developing a platform for trading futures for this drink.

Subscribe to BlockchainJournal news on Facebook !