Everipedia, a wiki platform and online encyclopedia, closed a $30 million funding round from Galaxy Digital's EOS.IO Ecosystem Fund, the Distributed Network Advisors Fund, and other backers. The compa
Everipedia, a wiki platform and online encyclopedia, closed a $30 million funding round from Galaxy Digital's EOS.IO Ecosystem Fund, the Distributed Network Advisors Fund, and other backers. The company will use the money to launch its blockchain network and expand its user base globally. Everipedia wants to upend the centralized encyclopedia model with a decentralized system for knowledge sharing and access.
Sam Kazemian, Everipedia's president and co-founder, said the startup believes "the disruption of traditional centralized web services is an inevitable trend." He said the capital enables the company to remain "at the forefront of this paradigm shift."
In December, Everipedia announced it would build on EOS.io, a blockchain platform. The company plans a peer-to-peer architecture with a token-based governance system. Sam Englebardt, Galaxy Digital's head of strategic partnerships and manager of the EOS.IO Ecosystem Fund, called Everipedia "a great fit for EOS.io … technologically and ideologically."
Galaxy Digital and Block.one formed the EOS.IO Ecosystem Fund in January with $325 million in capital. The fund backs projects built on EOS.io and funds ecosystem development.
Larry Sanger, Wikipedia's co-founder, joined Everipedia in late 2017. He said the new funding enables the company to create "the infrastructure for something that desperately needs to exist, something that should have been built a long time ago: a global, decentralized, neutral forum that can credibly discover the best of our knowledge."
Everipedia's blockchain-based protocol includes built-in incentives with a distributed backend. Contributors earn IQ tokens for curating articles, encouraging knowledge production and sharing. The protocol operates without relying on advertisements or donations.
The platform debuted in 2015 as a modernized alternative to Wikipedia. Everipedia claims over three million unique monthly users and more than six million articles, surpassing English Wikipedia's content volume.
