Everipedia, a Los Angeles, CA-based online publicly editable, free content encyclopedia, raised $30m in Series A funding.
The round was led by Galaxy Digital’s EOS.IO Ecosystem Fund.
The company is using the funds to expand its development efforts.
Founded by Sam Kazemian and Theodor Forselius at UCLA in December 2014 as a side project out of Kazemian’s dorm room, Everipedia leverages distributed ledger technology to build an encyclopedia used for reading, creating, and editing collaborative articles online.
The pages are wiki articles, meaning the site’s users can collaboratively edit the page’s content and structure.
In late 2017, Wikipedia cofounder Larry Sanger joined Everipedia as Chief Information Officer and he and the team have bbe working to move the entire process of editing and storing articles onto the EOS blockchain and IPFS.
On Everipedia, contributors (referred to as editors or scholars) gain IQ points when they add more content to a page. This is based on a metrics that are tracked within the platform.
The team is currently building the infrastructure needed to convert the IQ earned on the site into utility tokens.