Hamburg, 14 January 2021 (pta009/15.01.2021/09:45) - The investment company coinIX GmbH & Co. KGaA is increasing its investment in the "Publc" project.
The Publc team, based in Tel-Aviv and London, is working on the development of a search engine for the Web 3.0. Using a token model, the search engine aims to provide its users with only the most relevant information for search queries. While classic search engines are determined by centrally prescribed algorithms and are increasingly characterized by paid content, PUBLC is developing a decentralized architecture in which the search results are based on evaluations by the user community. Through a blockchain-based payment model, content creators and users are incentivized to share content and rate the relevance of posts. Together with its first investment from 2020, coinIX is one of the early investors. As part of the original investment, coinIX acquired the right to increase the investment on preferential terms.
After Publc has developed very positively, coinIX has decided to increase the initial investment. The successes include the steadily growing user numbers since the soft launch of the platform. From August to October 2020, user numbers doubled and a tenfold increase in clicks generated on the platform was achieved. Since October 2020, the number of users has doubled again, which is a strong indication of great growth potential before the official full launch of the platform.
Moritz Schildt, Chairman of the Supervisory Board of coinIX GmbH & Co KGaA explains: "We are very pleased with the positive development of Publc and continue to believe that search engines will not be spared from increasing decentralization. Publc has developed an extremely promising system and we are pleased to be an investor in this project."
Lior Davidovich, founder of Publc adds: "With PUBLC we are building the next iteration of the web, revolutionizing how the content of the web gets organized, discovered and monetized. With 70 percent of the global ad revenue going to only 3 companies, it's apparent that this model is broken and it's time for a new one. PUBLC is aspiring to create a new, more equally distributed web economy using Blockchain and token economics rewarding the entire web ecosystem. We at PUBLC are happy to have such a great partner as coinIX on our side and are excited about our next steps as we further grow the platform, community and economy."
Felix Krekel, CEO of coinIX GmbH & Co. KGaA
E-mail: email@example.com Phone: +49 40 35 67 67 58
Moritz Schildt, Chairman of the supervisory board at coinIX GmbH & Co. KGaA
E-mail: firstname.lastname@example.org Phone: +49 40 35 67 67 58, Cell: +49 160 973 971 41
About the coinIX GmbH & Co KGaA
The coinIX GmbH & Co. KGaA was founded in Hamburg in 2017 as an investment company to build up expertise in the area of blockchain technology and crypto currencies as well as in the analysis, acquisition and management of digital assets and to make investments in this sector. The coinIX team consists of specialists with many years of experience in asset management and in the analysis of new technologies. Currently, the company is invested in more than 17 virtual currency positions and projects and already holds investments in 6 blockchain start-ups. The company's shares have been included in the open market of the Düsseldorf Stock Exchange since 2nd December 2019.