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The current bear market has brought many seemingly great projects to there knees without discrimination. The ICO market has also suffered and many startups failed before they were even able to get off the ground. One of those startups was Civil: A blockchain-based journalism platform that uses the powers lent by blockchain technology to produce investigative and trustworthy journalism that no longer had to rely on ads for revenue and allowed content consumers to vote on the authenticity and accuracy of a given piece.
However, Civil’s ICO failed and the project didn’t take off at its first attempt. But now, in an announcement this week, Civil is back with renewed resolve and a plan to get the project off the ground. The project’s ecosystem has the CVL token. Starting from March 6th, users are able to buy the Civil membership and CVL tokens. The tokens represent the consumers voting power in the Civil ecosystem. The announcement reads:
“Thirty-four million Civil tokens will be priced by The Civil Media Company at $0.20 per CVL on March 6. Every token sold will trigger a slight price increase until the last token goes for $0.94 via a transparent, fixed and linear slope.”
Civil claims that 100% of the net proceeds towards supporting the organization Civil Foundation. Civil Foundation is a non-profit organization that plans to support ethical and trustworthy journalism on a global scale. Furthermore, members of the Civil ecosystem will be given CVL equivalent to their financial contribution towards the Civil Foundation.
Civil is introducing two new tools at launch.
- The Civil Registry
- The Civil Publisher
The Civil Registry allows any newsroom to be able to apply to become a Civil newsroom with the self-governing community. The Civil Publisher allows newsrooms to record verifiable data regarding their publications to the blockchain, which means the sources and facts will be available for the public and transparent. Through scrutiny, each news source on the Civil platform is kept focused on producing ethical journalism instead of reaching for as many ads as possible.
Civil noted in their announcement that the launch is not like just any other ICO. In their last attempt, Civil failed to accomplish their target goal of $8 million in investments. However, this time around, with a renewed vision, already over 100 newsrooms have joined Civil (including Forbes and the Associated Press), according to the announcement article. Evidently, the company is determined to see their project to reach success.