Media portal BlockTV announced the termination of work

06/09/2020

ForkLog

Portal focused on the cryptocurrency spaceBlockTV has ceased operations due to economic difficulties caused by the coronavirus pandemic. CoinDesk writes about this with reference to two former employees of the company.

BlockTV started downsizing back in March and has parted ways with all 35 employees in its Tel Aviv office to date.

“The COVID-19 crisis has hit us hard,and we made the decision to close BlockTV. We are proud of the brand we created and all the fresh content and news that we brought to the blockchain and crypto communities. Hopefully we will be able to recreate BlockTV in the future, ”said COO Noah Tamir.

BlockTV launched last year with support fromIsraeli businessman Moshe Hogeg. In November, the project tried to raise $ 2 million by selling its BLTV token on the Bittrex exchange. By analogy with Basic Attention Token (BAT), it was supposed to be used to attract readers, publishers and journalists to cooperation.

BlockTV sets price for BLTV during presalein the amount of $ 0.01. At the time of publication, the token is trading at around $ 0.003, according to CoinGecko, 70% below the starting price. Also, the March layoffs and an attempt to work with a reduced staff did not bring the desired result.

“Unfortunately, due to the quarantine, they are notwere able to effectively complete the campaign. Like many others, maintaining normal processes in such conditions was difficult,” — said former BlockTV senior analyst Asheo Westropp-Evans.

Prior to the crisis, BlockTV planned to open a studio in New York. Throughout the spring, the portal continued to produce content, however the project's last Twitter post dates from May 18th.

Moshe Hogeg is also known as the founderblockchain prediction platforms Stox. In January 2019, a lawsuit was filed against him with allegations of misuse of more than $ 4.6 million received from investors during the ICO project.

Recall that last week, the journalistic blockchain startup from New York Civil announced the closure after four years of work.