Journalism network based on the Blockchain Civil has officially announced on the 1st of March that it will be launching its blog post.
Civil To Launch Officially
Civil brands itself as an independent journalism platform that is focused on the development of an alternative journalism model. The system has its own native token dubbed the CVL token which has been purported as ensuring financial sustainability boosting the trust in journalism. The CVL token has been limited to 100 million token.
According to the announcement, as from the 6th of March the ability to purchase Civil membership will be open to the platform’s users. Users will also be able to purchase CVL which will give them voting power within the Civil ecosystem. The post states that the Civil Media Company will be pricing thirty four million tokens at $0.20 per token as from March 6th. Additionally the post points out that a slight price increase will be experienced with every token sold up to a point where the last token will go for $0.94 through a transparent, fixed and linear slope.
According to reports, all of the net proceeds gained from the platform will be directed towards the Civil Foundation which is an independent non-profit organization and which promotes ethical journalism globally. Additionally, members will be awarded CVL tokens equivalent to their contributions to the foundation.
Token Sale To Continue Despite Failed ICO
Also accompanying the launch will be the introduction of the Civil Publisher and the Civil Registry. The Civil Publisher enables Civil newsrooms to indicate the verifiable information within their publications on the Blockchain. Civil Registry on the other hand is an app that allows any newsroom to submit an application to be a newsroom for Civil with the community which self-governs. Reports indicate that there are already close to a hundred newsrooms already registered to join the Civil platform.
Through the recent post, Civil notes that this new development is not a token sale which has been seen as a reference to the platform’s initial launch which included the CVL token sale. Although the initial target of the token sale was $8 million, Civil was not able to reach this target only managing to raise $1,435,491. The initial number of users who registered to take part in the sale was 1,738, however only 1,012 investors took part in the sale.
Late last year Civil announced that it will be officially launching the platform in February this year. The platform announced at the time that it will continue selling the CVL token despite the failed ICO.
Restructuring And Change Of Focus Within Civil
Matthew Iles, Civil’s founder, stated that upon further discussion with the team, it was decided that the platform should put more focus on journalism with a restructuring of the platform also being a requirement. The platform will continue the sale of the tokens without soft or hard caps.
In August of last year Civil entered into a collaboration with the Associated Press which would see he Associated Press submit its content on the platform.