A blockchain startup called Metadium Technology (CEO Park Hoon) announced that it has attracted 38,000 Ethereum (about $31.3 million (35 billion KRW)) through private sales. Out of 2 billion tokens that were issued, 1 billion of them were sold.
Global blockchain investors such as Kennetic Capital and 500 Startup and South Korean blockchain accelerators such as HASHED and GBIC had participated in these private sales.
Metadium is a name of a blockchain project established to secure online and offline identities and to solve online identity verification problem. It current has partnership with a leading blockchain patent company in South Korea called Coinplug.
Metadium is the first South Korean blockchain startup that received investments from Founder Michael Arrington of TechCrunch, who was selected as the top 100 most influential people in the world by The Times in 2008, through ‘Arrington XRP Capital’.
Metadium’s goal is to form an ecosystem based on digital identity through blockchain technology. It adopts self-sovereign identity concept, which is based on users being responsible for their own identity, and provides Meta ID infrastructure so that individuals can safely manage their data.
Currently, Metadium is planning to start Testnet during this third quarter with South Korean and Vietnamese development teams and an American blockchain research institute at the center. It is also planning to hold Crowdsale in early September.
Staff Reporter Gil, Jaeshik | osolgil@etnews.com