Share this article
Overstock's Venture Arm Invests $2 Million in Blockchain ID Firm
Overstock's Medici Ventures has invested in blockchain ID firm Evernym in a $2 million seed round for potential equity.
Updated Sep 13, 2021, 11:29 a.m. Published Sep 26, 2019, 1:00 p.m.
Blockchain-based identity firm Evernym has received a $2 million investment from Overstock subsidiary Medici Ventures, according to a release from the company.
Medici Ventures participated in Evernym’s Simple Agreement for Future Equity (SAFE), which will be transferred into preferred stock at an undisclosed date. The round closed earlier this month with Evernym receiving funding from Medici Ventures for realizing its product.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
A fully owned subsidiary of Overstock.com, Medici Ventures invests in blockchain firms and technology. Evernym joins Netki and FinClusive as Medici Ventures' other identity-focused portfolio companies.
Speaking about the SAFE, newly appointed Overstock CEO and President of Medici Ventures Jonathan Johnson said Evernym is bringing the promise of digital identities to the world through blockchain technology.
“Evernym is bridging the gap between the siloed approach to identity and true self-sovereign identity," said Johnson. "Evernym’s platform allows every person, organization, and connected thing to have an independent identity … and will help advance our government-as-a-service technology stack for civilization.”
Evernym president Steve Havas told CoinDesk the startup has been used by over 40 proof-of-concept or pilot projects to date and continues to work toward actualizing data self-sovereignty.
"Right from the start we’ve made it a rule not to cut corners in terms of ensuring a privacy by design, privacy by default position for our products - ultimately we’re designing applications that we as individuals would be happy to use."
Johnson was appointed interim CEO of Overstock.com on Aug. 22 and full-time CEO a month later, taking over when former CEO Patrick Byrne resigned after admitting an affair with Russian spy Maria Butina.
At the time of his interim appointment, Johnson said he was fully ready to run both Overstock.com and Medici Ventures.
Overstock image via CoinDesk archives
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Binance opens up ways for users to generate income using ETH options
Binance has opened up ether options to all users, allowing them to earn passive income.
What to know:
- Binance has opened up ether options to all users, allowing them to earn passive income, expanding a strategy previously limited to professional traders.
- The exchange's move responds to growing demand for advanced derivative tools from both retail and institutional investors.
- Binance has upgraded its options platform to offer faster execution and greater flexibility, aiming to dominate the competitive crypto options market.
Top Stories
