Gems Crowdsale Raises $111k and Counting for Crypto Social Messaging Service

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Gems, the recently announced bitcoin-powered, decentralized social network, ended the invite-only portion of its public crowdsale today, raising roughly $111,000 over the two-week period.

The Gems presale is the first crowdsale to be held on Koinify, the decentralized application development platform that raised $1m from investors including IDG Capital Partners, Brock Pierce's AngelList syndicate and zPark Ventures in September. As such, the crowdsale, which has now opened to the public, is being billed as one of the best supported effort by the bitcoin community to launch a viable crowdfunding platform.

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