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We just raised $6M to liberate social media together

MindsOct 26, 2018, 2:06:20 PM


In case you missed it, we recently announced a $6M investment from Patrick Byrne and Medici Ventures, a firm dedicated to advancing blockchain technology. We are blown away by this milestone and want to provide some more information on what this all means for Minds moving forward.

We want to THANK YOU all for your energy in making this platform what it is today. YOU made this happen by supporting Minds as a truly open source and freedom-focused social media alternative.

Last year, we made history together when we raised $1M in just 19 days to break the equity crowdfunding record on Wefunder. Over 1,500 members of our community banded together to help provide Minds with the capital we needed to press on. As a result of the investment by Medici, Minds crowdfunding investors will realize a 60% gain over the valuation cap of their original investment just over one year ago.

Who are Patrick Byrne and Medici Ventures?

For our Series A funding, we have chosen to partner with Medici Ventures and Patrick Byrne, a web and cryptocurrency pioneer, and the CEO of Overstock.com. Patrick will also join the Minds Board of Directors. Their investment in Minds is a strong acknowledgement of our blockchain technology leadership and the growth of distributed Internet computing overall.

It was essential to us that we bring on a partner who is aligned with our values. Medici provides us with the resources to invest more heavily in the core principles that brought many of you here in the first place. We believe we have found a partner who truly believes in our vision of Internet freedom and the distributed Internet.

Medici describes their mission as the following:

“We believe that by advancing blockchain technology we can bring the people of the world closer together. By eliminating the need for trust institutions to stand between us, blockchain offers humanity the chance to re-engage and connect once again as people. Blockchain technology offers us the chance to replace fear, suspicion, deception and fraud with trust, confidence and the ability to connect and transact freely with all people.”

What is the plan moving forward?

With the money from this funding round, we will grow our team and hire talented individuals to bring the Minds platform to the next level. Our plan is to focus deeply on engineering, marketing and support for the open source community. We hope to better harness the energy of Minds users, influencers and software developers globally.

These engineers will supercharge the functionality of Minds end to end including and not limited to Video, Newsfeed, Boost, Wire, Search, Hashtags, Groups, Messenger, Blogs, Wallet, Rewards, Comments, Mobile, Notifications, and even Nomad, our fully decentralised prototype. 

By expanding our engineering and harnessing our open source community, the Minds crypto social network has a chance to surpass mainstream social networks in design and function as well as by our commitment to Internet freedom.

To accelerate our growth, please continue your support:

- Reach out to us with strategic partnership and alliance opportunities. If you know influencers, put us in touch by contacting [email protected].

- We are hiring talented developers who are expert in the technologies in our stack (we will be adding a Jobs page in the near future with all available opportunities). Please reach out to [email protected] if you are interested in contributing or joining the team.

- Invite your friends, family and contacts to Minds through your referral code in your settings. This is the most important way to help us grow and also earn tokens.

- Be active on your channel and buy some tokens! Use them to Boost your content, Wire to other channels for rewards and upgrade to Plus.

Thanks for everything and please let us know feedback in the comments or the Support group!

The Minds Team