Media platform devoted to supporting journalism and protecting its likes, Civil has raised funds of over $1 million in what seems as an effort to build over 100 media projects within the Asian market over a span of three years. To put their plans into action, Civil has supposedly teamed up with Splice, Singapore-based media outlet that works towards transforming how we perceive journalism.
Civil seems to have attracted a lot of attention from firms and investors, as it managed to secure ConsenSys’ contribution of nearly $5 million, as well as its upcoming Initial Coin Offering (ICO), which has a set goal of $32 million in funds.
Co-Founder and CEO of Splice Alan Soon voiced his opinions on the project at hand with TechCrunch. In particular, he said that the specs as to how and what types of financing will be offered remains unclear, however, he sees “pre-seed and micro-investments”, as being the main types that will “help entrepreneurs take their ideas to prototype stage.” The decision to offer funding to Asia comes from the need for a push to get media organizations started and lifted up.
As for the media aspect of the project, diverse fields within the broader scope will be focused upon, which range from publishers, online platforms, podcasts and those who contribute in the hidden scenes – literally every possible player in the game.
Soon also made it clear that those who are offered funds to start their media startups are not required to abide by the Civil protocol, however, he shared that Splice will be working alongside Civil throughout the entire process. This allegedly will open doors to the Singapore-based media outlet, as they will have access to “authentication and eventual licensing opportunities”, as well as “content sharing, collaborations and audience discovery.”