Mithril establishes “Global MITHRIL Forge Fund 1.” Strategic partnership unfolds to implement Social Mining.

Mithril establishes “Global MITHRIL Forge Fund 1” expects to invest in various sectors to expand the Mithril ecosystem, and establish strategic partnerships to drive Social Mining, with Mithril Foundation as the cornerstone of the fund. Sectors in focus include social media, entertainment and payments. The Fund’s mandate is “Mithril In, Mithril Out”; Mithril tokens will be the currency of investment, and returns will either be received in Mithril tokens, or converted into Mithril tokens through open market purchase, all to be reinvested into the Fund. The Fund will strive to expand the Mithril ecosystem, with social mining as its focal point while building out the general ecosystem.

The Fund has already begun discussions with a few investment targets, and has also conducted in-depth conversations about potential cooperation with key industry partners. The Fund expects to close its first investment, in a top social platform, by August.

The concept of “Social Mining” has been realized and implemented on Lit, an application that is now jointly operated by Mithril and M17 Entertainment. Mithril continues to actively engage with partners across all sectors, from live entertainment, to payment gateways, and social media, about possible integration and adaptation of social mining through a myriad of use cases. Through all these, Mithril hopes to enhance the use case, for both mining and using, and circulation of Mithril tokens, to forge the leading social mining ecosystem globally.