Civil to Repair Funds to Investors After Failed ICO
October 18, 2018
US-based blockchain project Civil that was aimed at moving journalism to blockchain has claimed it would give back all raised funds to investors as it failed to reach the minimum
Matthew Iles, the director of the initiative, published in his blog on October 16, the CVL digital currency sale campaign was closed October 15 having failed to raise $8 million.
A year ago the startup gained $5-million-worth investments ETH organization Соnsensys. The sale started on October 18 and the startup planned to raise from 8 to 24 million dollars to set its own journalist blockchain platform.
As the minimum amount was not reached Civil told investors to ask for refund or it will be done automatically on October 29.
Despite the failure the startup is not going to abandon the idea and will take another attempt to sell its digital currency and launch the platform.