Funding

Overstock invests in blockchain for wine

Published

7 years ago

November 25, 2018

Photo: iStockPhoto

Overstock’s venture arm, Medici Ventures, reportedly investment a “seven figure sum” into VinX, an Israeli-based company. VinX allows investors to own futures in wineries through token purchases. These futures enable the purchase of future wine, today, helping wineries with much needed capital, while securing a direct-to-consumer guarantee for wineries and their customers. The company claims that about 20% of wine produced is sold with fake labels. Through the use of the blockchain, VinX can guarantee that the wine a customer receives is direct from the winery indicate.d

Funding

Chat app LINE launches token venture fund

Published

7 years ago

August 15, 2018

Art Iinuma

Photo: Art Iinuma

The popular messaging app, LINE (NYSE: LN), has announced the launch of a USD 10M token venture fund to “boost the development and adoption of cryptocurrencies and blockchain technology.” The venture fund, called unblock venture ltd., is wholly funded by LVC, a subsidiary of LINE Plus Corporation, of Korea. The release also mentions the potential for investment in the fund to grow based on the future growth of the blockchain and cryptocurrency industry as a whole.

LINE has been active in the venture space, investing as an LP in several U.S-based venture capital companies including Collaborative Fund based in SF. The choice to invest in the blockchain space signals LINE’s continued interest in diversifying its portfolio of investments, as well as its interest in the cryptocurrency and larger blockchain space as a whole.