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Blockstack PBC raised $23 million in aggregate between its Reg A+ and Reg S offerings which it plans to use to further promote and develop the Blockstack network of decentralized apps
Management estimates that these funds should allow the company to have enough runway to last until the end of 2021 or longer
The number of apps on the network increased 52% since July thanks to the company’s App Mining program which awards monthly payouts to developers
However, the quality of these apps has been questionable and many have complained about the usage of bots and fake accounts in order to game the company’s reward system
Footnotes
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