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7 Chinese Blockchain Medias Announced Funding In March

According to the report on iresearch, from March 1 to March 9, there are seven blockchain medias announced close of funding rounds.

“We need 5 chief editors, 20 news editors, 5 media commissioners, 18 community managers, and 12 copywriters. The starting salary is 10,000 yuan and there is no hard cap.” This is a latest job advertisement from a blockchain vertical media.
“Blockchain media is now looking for talent, including editors, reporters, operations, and technology.” A former traditional media person who has already joined blockchain media told reporters.

The rise of blockchain media is accompanied with blockchain training. Online courses on Tencent and NetEase are priced around one thousand yuan. Some vertical training institutions charge between several thousand or tens of thousands of yuan.
From March 1 to March 9th, it’s reported that Qukuizhijia, Shenlian Finance, Jinqianbao, 8btc, Mars Finance, Kuailianxian and Gyro Finance announced to obtain financing. One of the largest financing comes from 8btc, 100 million yuan of A-round funding from Puhua Capital, Funcity Capital, Bitmain.

China’s Bitcoin Social Media Site 8BTC NEWS Acquires 100 Million Investment In Series A Funding

Compared with other six blockchain media, 8btc is considered to be the most “senior” in the blockchain industry. It is the first blockchain portal in China. Other blockchain medias that announced funding in March were “very young” but their growth was very alarming.
For example, Mars Finance was launched on February 8, 2018. 26 days later, it obtained A-round investment from IDG Capital, Funcity Capital, OKEx, and Mingshi Capital with valuing of RMB 150 million. Other blockchain medias were established no more than six months ago.
“The bubble in this industry is relatively huge, whether it is individuals or institutions.”
Shi Qingwei, founder of Gongxian Finance, told reporters,

“Many individuals in the industry are investors and have sufficient capital. On the other hand, it is important for blockchain projects to have media outlets.”

According to the reporter’s understanding, advertising, paid training, and online and offline events are currently the major source of profit for blockchain media.

The problem is:

“There are too many medias and the competition is steaming. Many reports are identicial, which leads to serious drafting and plagiarism.”

Shi Qingwei said,

“Many blockchain media may not survive this year. Everyone is chasing bubble and have no idea of what blockchain is.”

Search for blockchain reporters in Lagou.com, indicates a total of 183 vacancies. The highest salary, 15K~30K, is offered by Xinwuhulian. The average offer is around 10K to 15K, which is not high in the Internet industry, but it is still somewhat attractive compared to the traditional media industry.

“According to the market supply and demand, the starting salary of 10,000 yuan in the industry is medium. There are few people who really understands blockchain, not to mention technology. Even fewer people understand some financial aspects. So the overall salary will be higher than other industries,” Shi Qingwei, founder of the Sharing Finance, told reporters.

Shi Qingwei said that he was expected huge demand from various industries to integrate their business with blockchain. Also competitiveness of the industry will be more intense. Shi believes that continuous growth could be sustained only by more coverage and professionalism.

In addition to the blockchain expertise, many wemedias are short of news editing capabilities. As disclosed by a former reporter, “I have seen newsletter released by three medias and even the typos are the same. With the entry of professional media people, some weak wemedia will be eliminated.”

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